Increase in deposit ceiling in line with global trend

Increase in deposit ceiling in line with global trend

The increased deposit ceiling is in line with the global trend, ensuring liquidity security and the ability to raise capital. This was stated by Deputy Governor of the State Bank, Pham Thanh Hà, during the government’s regular October press conference taking place on Oct. 29 in Hanoi.

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The State Bank focuses on ensuring credit growth in line with macro-economics.
Photo: VNA/CVN

Pham Thanh Hà added that the most important issue was the control of inflation to help stabilize the macro-economy and ensure the liquidity of credit institutions as well as the whole economy.

According to him, all the central banks in the world have raised interest rates, especially the US Federal Reserve (FED) has raised interest rates very quickly and very strongly, causing the national currencies of countries to depreciate.

Countries continue to raise interest rates for the second time for two reasons: to fight domestic inflation, to support the devaluation of the national currency against the US dollar, he added.

The State Bank focuses on ensuring credit growth in line with the macro economy and the ability to access capital from the economy as well as businesses.

VNA/CVN

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