Finance body warns Vietnam on inflation
Play
Vietnam's National Financial Supervisory Committee proposed more attention be paid to the monetary market, saying in a recent report to the government that the country's economy had seen alarming signs when it came to interest rates and inflation.
The report said that since the beginning of September, the mobilising interest rate for long-term deposits in some banks exceeded the cap set by the State Bank of Vietnam to reach 12-13 per cent, demonstrating that several banks faced difficulties in liquidity.
According to the committee, the government should focus on accelerating the interbank monetary market to solve banks’ liquidity problems. Measures to prevent excessive interest rates were also needed, according to the report.
