HANOI, Jan. 4 (Xinhua) -- The State Bank of Vietnam will not consider increasing policy interest rates and might extend debt rescheduling policies to support enterprises this year, Vietnam News Agency reported Thursday, citing the bank's Deputy Governor Dao Minh Tu.
He said the central bank would manage rates in the direction of not increasing operating costs, and based on global economic development and major macro balances.
In 2023, the bank cut policy interest rates four times by 0.5-2 percentage points, resulting in reductions of around 2 percentage points in deposit and lending rates compared to the end of 2022.
As of the end of 2023, lending rates for prioritized sectors were reduced to below 4 percent per year while the average deposit rate was 3.5 percent per year.
According to the central bank, total credit of Vietnam's economy grew 13.5 percent in 2023, lower than the target of 14-15 percent. ■
