Central bank to continue managing monetary policy

The State Bank of Vietnam (SBV) said on Thursday that it will continue to coordinate with relevant Vietnamese ministries and agencies regarding the US Department of Treasury's issues of concern, in a continuing spirit of cooperation.

The central bank made the statement after the US department released a monitoring list on Wednesday of major trading partners that merit close attention to their currency practices, which includes Vietnam. The bank will also continue managing the monetary policy to control inflation, stabilize the macro economy, spur economic growth , and manage the forex rate flexibly in line with the developments of both the domestic and foreign markets, as well as the characteristics of the Vietnamese economy, so as to not create an unhealthy competitive edge in international trade.

In the report, the department reviewed and assessed the policies of an expanded set of 21 major US trading partners, whose bilateral goods trading with the US exceeds 40 billion USD annually. Previously, it only covered the 12 largest trading partners.

The US Department of the Treasury will continue monitoring information and statistics regarding Vietnam's trade, current account, monetary and macroeconomic policies, and may work with relevant Vietnamese agencies in the future as it deems necessary.

Source: VOV5