November 23, 2021 | 11:19

Money leaving banks due to low interest rates

Many people have withdrawn money from banks over the past year after deposit rates hit a record low. According to Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu, if rates remain too low then people will switch to real estate investments or gold purchases. This can lead to some degree of economic instability. A number of banks have slightly increased their interest rates.

Money leaving banks due to low interest rates
Photo: State Bank of Vietnam
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The original article is written and published on VnEconomy in Vietnamese, then translated into English by Askonomy – an AI platform developed by Vietnam Economic Times/VnEconomy – and published on En-VnEconomy. To read the full article, please use the Google Translate tool below to translate the content into your preferred language.
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