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Five solutions to monetary policy from now until the end of the year



One of the solutions that the regulator is paying attention to is deliberate intervention in the foreign exchange market in case of unbalanced supply and demand of foreign currency to ensure that the exchange rate does not fluctuate excessively, Stabilizing the market, limiting speculation, keeping foreign currencies ...

Bank of the State said that in the period from now until the end of the year, based on the objectives of the National Assembly, the Government and the central task of the sector, the central bank operating monetary policy initiative, flexibility, close cooperation with Fiscal policy and other macroeconomic policies to ensure macro stability and control of inflation.

The first solution was to closely monitor the macro movements, the domestic and foreign money markets to actively and promptly implement appropriate solutions. Operating synchronous and flexible tools of monetary policy to stabilize the market currency , facilitate the process of restructuring the stock market and capital markets, stabilize the foreign currency market, control the growth rate of total Means of payment, credit oriented.

Second, operating interest rates in line with macroeconomic developments, inflation and monetary market to stabilize interest rates. Continuing to instruct credit institutions to save costs and improve business efficiency in order to stabilize deposit interest rates and conditions to reduce lending interest rates in order to share difficulties with borrowers but ensure financial security. Major in operation.

Third, continue to operate flexible central exchange rates , coordinated solutions and monetary policy instruments to support exchange rate stability , carefully consider the sale of foreign exchange market intervention in the case of supply Demand for foreign currency is unbalanced to ensure that the exchange rate does not fluctuate, causing psychological instability in the market, limiting factors speculation and holding foreign currencies, thus affecting the objective of stabilizing the value of money. And macroeconomics.

Fourthly, continue instruct credit institutions to focus on credit capital for priority sectors and effective production and business sectors as directed by the Government; To continue directing the implementation of specific credit programs of the Government such as rice, coffee, aquaculture, etc .; At the same time, the SBV instructs credit institutions to continue implementing policies to remove difficulties and create favorable conditions for them. Lawsuits for businesses and people to access credit capital to develop their business, especially for the pig industry, animal feed production and veterinary medicine production.

Fifth, continue to work closely with fiscal policy as well as with other macroeconomic policies to achieve inflation control, macroeconomic stability, and growth support.

 

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