This monetary policy is meant to control this year's inflation within the targeted ceiling of about 4 percent, support macroeconomic stabilisation, assist economic recovery, ensure liquidity, maintain the stability in the monetary and forex markets, and create conditions to reduce capital expenses for people, businesses, and the economy as a whole, the official said. The SBV will maintain a close watch on domestic and foreign macro-economic and monetary changes, foreign exchange rate developments, as well as foreign currency demand and supply to set appropriate exchange rates, he noted, adding that it will uniformly carry out measures and policy tools to stabilise exchange rates and the forex market to help ensure macro-economic stability. Besides, credit provision will be boosted, especially for priority fields to match economic restructuring and help fuel growth and stabilise the macro-economy. Tu also stressed the need to tighten control over credit for high-risk areas like real estate, transport projects in build-operate-transfer (BOT) and build-transfer (BT) formats, and securities while at the same time taking synchronous solutions to tackle difficulties facing those hit hard by the COVID-19 pandemic and natural disasters. The central bank will order credit institutions to facilitate people and enterprises' access to credit to help… Read full this story
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