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The State Bank of Vietnam said it will keep the zero percent interest rate on US dollar savings, which it has held since 2015, because it considers the timing wrong for an increase. This is despite three Federal Reserve rate hikes in 2017.
Local officials warned that dollar holders may move savings overseas.
Keeping dollar deposit rates at zero supports the dong and central bank reserves, but a capital outflow would add pressure on the currency and on import costs for feed.
news.tuoitre.vnTuoi treDec 20, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
