Vietnam to pay attention to monetary policy after US report – c.bank official

A Vietnam Dong note can be seen in this illustrative photo on May 31, 2017. REUTERS / Thomas White / Illustration / File Photo

HANOI, Dec.5 (Reuters) – Vietnam will pay more attention to its monetary policy as it is not only a domestic matter but also a concern for the country’s major trading partners, a vice-governor of the central bank, a few days after the decision of the US Treasury. half-yearly exchange report.

The US Treasury report said on Friday that Vietnam had exceeded its trade surplus, current account and foreign exchange intervention thresholds, but was “satisfied with Vietnam’s progress to date” in addressing the problems of change rate. Read more

Speaking at an economic forum, Pham Thanh Ha, deputy governor of the central bank, said the bank has taken the issues seriously and its monetary policy towards them has been implemented effectively.

“We need to pay more attention to the implementation of our monetary policy because it does not impact our national economy but also our major trading partners,” Ha said.

“Vietnam will continue to implement its monetary policy in a prudent and flexible manner.”

Ha also said the power plant had bought around $ 25 billion over the past two years to help inject dong into the banking system and stimulate the economy.

If necessary, he said, the bank should implement measures that would affect market liquidity and interest rates amid rising inflation risks.

Editing by Alex Richardson

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