Lending rates are to be cut by 1-2%
Under May 29 document, the central bank set a target to have credit growth increased by 5-6% by the end ot Q2 this year.
Topic: lending rates
PM seeks further lending rate cuts
Banks asked to make public average lending rates.
16 banks cut interest rates to the tune of $149mln to support businesses
The commercial banks committed to a reduction in loan rates of between 0.5 and 3 per cent per annum.
Pressure being placed on lending rates
According to Viet Dragon Securities (VDSC), with lending rates on the rise, tightening credit space may push rates even higher in the second half of the year. The State Bank of Vietnam could adjust its credit growth target to make it more in line with actual needs, and credit growth for the year as a whole could reach 16 per cent.