HANOI (Reuters) – Vietnam's central financial institution is able to promote U.S. {dollars} available in the market to maintain the trade price steady, Governor Nguyen Thi Hong stated. Monday (NASDAQ:).
“The trade price market has develop into risky after the Fed's price cuts,” Hong informed parliament in Hanoi, including that managing the market was a tough process.
Hong stated the central financial institution would prioritize stability and inflation management, however would put in place measures to assist the federal government's aim of accelerating the tempo of financial progress.
“We’re rising preferential mortgage packages for tasks to develop housing for low-income earners and the aquatic business,” Hong stated.
Financial progress depends largely on robust credit score progress, however Hong stated whole excellent loans have been “already excessive”, equal to 120% of GDP.
“It’s dangerous to proceed to depend on easing measures,” Hong stated.
She stated there was a must encourage companies to boost funds by means of the company bond and fairness markets.
