Archive for November, 2014

Vietnam may cut dong deposit

Posted November 20, 2014 By stoccato
Vietnam’s central bank may cut the ceiling rate on dong deposits by another 2 percentage points to 9 percent later this year to help boost lending and spur economic growth, a state-run newspaper said on Friday, as policymakers across Asia eye fresh stimulus to combat the global downturn.

Another rate cut in the pipeline would help ease corporate difficulties in accessing bank loans, after Vietnam’s economic growth slowed to an annual pace of 4 percent in the first quarter of 2014, the slowest since 2009.

The downward adjustment would be the last in 2012, the central bank was quoted by the ruling Communist Party-run Nhan Dan (People) daily as telling bankers at a meeting on Thursday.
Read the remainder of this entry »