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Interest rates to be adjusted to fit CPI (18/09)
06/08/2010 - 22 Lượt xem
Hanh said that the central bank will not regulate the interest rate based on the principle of ensuring real profit for depositors, but on the principle of maintaining harmony with the CPI.
Hanh predicted that the CPI in September will decrease considerably as the petrol price two times decreased in August, while the world’s crude oil price is now on the decrease, and the prices of other commodities have also been decreasing.
However, Hanh believes that the basic interest rate will not drop dramatically. If so, the banks which once lent at high interest rates will meet difficulties.
“The State Bank of Vietnam will consider it thoroughly and make suitable interest rate cuts which do not affect banks and businesses’ effectiveness,” Hanh said.
A lot of banks have expressed their desire to slash deposit interest rates, but they still dare not do that as they still have to listen for news of the situation and watch other banks’ moves. However, Hanh said, as the biggest banks have announced interest rate cuts, other banks will also have to slash interest rates in the time to come.
Hanh also said that the liquidity of banks has improved, while some banks have lowered lending interest rates. The central bank has become more flexible in applying the regulation on restraining the credit growth rate at 30%. It is not punishing the banks which have the credit growth rate nearly hitting the 30% ceiling level and is trying to provide more loans as it did several months ago.
Source: TBKTSG
