(Bloomberg) A month or so ago, Vietnam’s central bankers were rushing to ease monetary policy, sometimes within hours of the political leadership asking for an interest-rate cut. Not anymore. Most Read from BloombergDollar’s Busted Bull Run Has Bears Calling End of an EraSingapore House Speaker Resigns in New Blow to Ruling PartyRussia Derails Danone, Carlsberg Exits by Seizing AssetsIsrael Quietly Embeds AI Systems in Deadly Military OperationsUPS Union Asks Biden Not to Intervene in Case of
Prime Minister Pham Minh Chinh on July 15 ordered prioritising capital for production and trade to fuel growth in tandem with stabilising macro-economy, controlling inflation and Government and public debts while ensuring major balances of the economy.
Banks have to lower lending interest rates to stimulate demand for new loans as credit growth falters and deposit interest rates have also dropped sharply.