The rise of the USD is driven by concerns about the possibility that the US Federal Reserve (Fed) may increase operating interest rates again this year and US Government bond yields increase in the context of rising interest rates. However, experts also warn that exchange rate pressure will continue to increase as the dollar strength index (DXY) continues to rise. “We expect lending interest rates to decrease by another 100-150 basis points in the coming months and believe that falling lending interest rates will be a factor promoting the recovery of private consumption and investment.
in the first 6 months of 2023, and the State Bank's issuance of Circular 02 allowing the extension of bad debt provisions. The reason is that capital costs of commercial banks are decreasing thanks to the impact of the State Bank's operating interest rate cuts. VNDirect experts expect lending interest rates to decrease more clearly in the last months of 2023. The decline in deposit interest rates is driven by excess liquidity in the system in the context of weak credit demand as well as the Government expanding fiscal policy.ĭong interest rates are decreasing, but exchange rate pressure is gradually increasing The average 2023-month deposit interest rate of commercial banks (commercial banks) decreased by 12 percentage points compared to the end of July to 0,5%/year (down nearly 7 percentage points compared to the beginning of 5,9).
In the recently published report on the currency market, VNDirect Securities experts said that deposit interest rates have continued to maintain a downward trend in August 8.
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