Monday, June 17, 2019 1:31:53 AM - Markets open
VN-INDEX 953.61 +3.53/+0.37%
HNX-INDEX 103.46 -0.03/-0.03%
UPCOM-INDEX 55.04 +0.08/+0.14%
Deposit rate forecast to stay steady over next few months
VietnamPlus - 2/18/2019 1:32:08 PM
 (0 ratings. You must sign in to rate.)
 Interest rates for VND deposits would remain stable or even decline over the next few months, analysts from Saigon Securities Inc. (SSI) forecast.
 
The outlook is different to a month ago when most believed pressure from interest rate hikes would occur in 2019 due to high inflation, global tightened monetary policy and the accelerating trade war.
 
However, according to the analysts, things had changed and the predictions for interest rates in 2019 were currently completely different from one or two months ago. Positive indicators in inflation, GDP, trade and foreign exchange last year, had helped reduce the pressure, they said.
 
“With the current context, deposit rates in the coming months will remain unchanged or even lowered,” they said.
 
However, risks from international developments still existed and could change very quickly, so it was difficult to make predictions about the development of the rate in the medium and long term.
 
The SSI also reported interest rates for VND deposits remained stable at 4.8-5.5 percent per year for terms of less than 6 months, 5.5-7.5 percent per year for terms of 6 to 12 months and 6.8- 8.0 percent per year for 12 -13 months.
 
In the inter-bank market, the SSI report showed the central bank net injected 66.87 trillion VND (2.86 billion USD) during the two weeks ahead of Tet (Lunar New Year), helping lending interest rates stay at 4.8-5.0 percent per year on the days before Tet when capital demand was high.
 
The overnight interest rate of US dollar loans on the inter-bank market in the days increased by 13 basis points, which was similar to the US Federal Reserve (Fed)’s rate hike. 
 
According to the SSI, the Fed won’t be raising rates anytime soon, so the gap in USD/VND interest rates in the local inter-bank market may be narrowed due to the possibility of VND interest rates declining when cash flow returns to the banking system after Tet.-VNS/VNA
 
Read original article here
 
Newer News
14/06 Reference exchange rate down 1 VND on June 14
12/06 Reference exchange rate down 5 VND on June 12
10/06 Cross-ownership in the banking system almost resolved
10/06 Deposit interest rates jump as banks compete with strengthening greenback
08/06 Banks face big capital burden despite dividend plan
07/06 Reference exchange rate down 2 VND on June 7
06/06 Reference exchange rate adjusted up by 8 VND on June 6
05/06 Central bank enhances measures against loan sharks
04/06 Reference exchange rate adjusted down by 8 VND on June 4
03/06 Reference exchange rate down at week’s beginning
Older News
18/02 Reference exchange rate down at week’s beginning
14/02 Reference exchange rate remains stable
13/02 Reference exchange rate continues increasing
13/02 VPB: VPBank named in Top 500 valuable bank brands for first time
12/02 Reference exchange rate up on first day after Tet
11/02 Banks expected to maintain good performance in 2019
31/01 Reference exchange rate unchanged on January 31
30/01 Reference exchange rate resumes upward trend
29/01 Central bank to end cross-ownership in local banks
28/01 Reference exchange rate down sharply at week’s beginning
 
Newsletter Signup
Top Stories
Government to crack down on trade fraud
Reference exchange rate adjusted up by 8 VND on June 6
VAMC to reclaim US$2.13 billion in bad debts
HCM City: 46.8 percent of FDI goes to property sector
Vietnam Pepper Association not hopeful of global price recovery
Market Update
Last updated at 3:09:42 PM
VN-INDEX 953.61 +3.53/+0.37%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.