Vietnam unlikely to raise rates this year, deputy governor says

Central bank may extend debt rescheduling as government demands higher credit growth

State Bank of Vietnam, Hanoi
The State Bank of Vietnam

The State Bank of Vietnam (SBV) will not consider increasing policy rates this year, deputy governor Dao Minh Tu said on January 3. 

The central bank might extend debt rescheduling policies this year, and said it expects the economy will continue to face difficulties, the deputy governor said.  

In November, the Vietnamese government ordered an investigation into the central bank’s management of credit growth, saying it was growing too slowly. Vietnam’s total credit grew 13.5% year on year in 2023

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