Vietnam's Central Bank cuts policy rate for fourth time
The move, effective from Monday (June.19), is the State Bank of Vietnam's fourth round of rate cuts since early 2023 to take an expansionary stance to support economic growth.
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S&P Global Ratings on Monday kept Vietnam’s 2023 economic growth forecast at 6%, making it the fastest-expanding economy in Asia-Pacific, citing the Southeast Asian country’s domestic resilience.
A recent article posted on portfolio-adviser.com has pointed out the frequent hope that Vietnam will be upgraded from its frontier-market status to the emerging market status.
2023 is seen by the banking industry as a challenging year as they have to continue to share resources and help cushion pressure on businesses amid slowing global economic growth.
The move, effective from Monday (June.19), is the State Bank of Vietnam's fourth round of rate cuts since early 2023 to take an expansionary stance to support economic growth.
It would be challenging for Vietnam to increase exports this year and will also have an impact on state budget receipts as a result of a persistent slowdown in global demand.
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