Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeYesterday at 6:02 am by Ditartyn

» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeSat Mar 23, 2024 9:25 am by swizzlestick

» ZIGPLACE
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeWed Mar 20, 2024 6:29 am by Zig

» CBD Vape Cartridges
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeThu Mar 07, 2024 2:10 pm by Arendac

» Classic Tony is back
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeTue Mar 05, 2024 2:53 pm by Mission1st

» THE MUSINGS OF A MADMAN
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeMon Mar 04, 2024 11:40 am by Arendac

»  Minister of Transport: We do not have authority over any airport in Iraq
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeMon Mar 04, 2024 11:40 am by Verina

» Did Okie Die?
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeMon Mar 04, 2024 11:34 am by Arendac

» Hello all, I’m new
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeWed Jan 31, 2024 8:46 pm by Jonny_5

» The Renfrows: Prophets for Profits, Happy Anniversary!
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeWed Jan 31, 2024 6:46 pm by Mission1st

» What Happens when Cancer is treated with Cannabis? VIDEO
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeWed Jan 31, 2024 8:58 am by MadisonParrish

» An Awesome talk between Tucker and Russell Brand
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeWed Jan 31, 2024 12:16 am by kenlej

» Trafficking in children
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeMon Jan 29, 2024 7:43 pm by kenlej

» The second American Revolution has begun, God Bless Texas
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeMon Jan 29, 2024 6:13 pm by kenlej

» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeSun Jan 28, 2024 3:28 pm by Mission1st

» Tucker talking Canada
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeWed Jan 24, 2024 6:50 pm by kenlej

» Almost to the end The goodguys are winning
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeMon Jan 22, 2024 9:03 pm by kenlej

» Dinar Daily Facebook Page
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeMon Jan 22, 2024 3:34 pm by Ponee

» The Fundamentals of Finance and Pimpy Live
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeThu Jan 18, 2024 7:17 am by Dinarhater

» Why Won't the Iraqi Dinar Scam Die?
Vietnam - October Inflation Slows for Second Straight Month I_icon_minitimeWed Jan 17, 2024 5:19 pm by RamblerNash

Vietnam - October Inflation Slows for Second Straight Month

Go down

Vietnam - October Inflation Slows for Second Straight Month Empty Vietnam - October Inflation Slows for Second Straight Month

Post by lexie Mon Oct 24, 2011 1:19 pm

October 24, 2011


October Inflation Slows for Second Straight Month


Vietnamese inflation slowed for a second month, an easing that may reduce pressure on the central bank to further increase interest rates.


Consumer prices rose 21.59 percent in October from a year earlier, according to data released by the General Statistics Office in Hanoi today. The inflation rate fell to 22.42 percent last month after reaching the highest level in more than two years in August. Prices climbed 0.36 percent this month from September.


The central bank raised its refinancing rate this month to 15 percent from 14 percent, boosting a rate that started the year at 9 percent as the country sought to regain investor confidence hurt by inflation, a trade deficit and risks in the banking sector. The International Monetary Fund said after the move that Vietnam may have to “further tighten” monetary conditions until inflation expectations are under control.


“It’s a pretty good number, and it now looks like inflation could get down to about 20 percent at the end of the year,” said Matt Hildebrandt, a Singapore-based economist at JPMorgan Chase & Co. “It’s less crucial that they raise rates further than that they maintain the tightening policy that they’ve already implemented, such as slower credit and money- supply growth.”


In February, the Vietnamese government put in place a series of measures known as Resolution 11 aimed at fighting inflation and stabilizing the Vietnamese dong. Among the measures were commitments to slow credit and money-supply growth.


Resolution 11


The recent slowdown in inflation demonstrates that Resolution 11 is working, Vietnamese Deputy Minister of Planning & Investment Dang Huy Dong said Oct. 19 at a conference in Ho Chi Minh City.


“The implementation of Resolution 11 will be continued until we bring macroeconomic indicators back to normal,” Dong said. That means “inflation will have to be brought down to a single digit, gradually.”


Still, while inflation may ease to 9 percent by the end of next year, economic growth may slow next year to 4.8 percent from 5.7 percent in 2011 amid weakening exports and foreign investment, according to Anthony Nafte, an economist at CLSA Asia-Pacific Markets.


“The risk is that reform will be ditched if the economy slows,” Nafte wrote in a research note this month. “Will the policy priority revert to achieving 6 percent-plus GDP growth at the expense of renewed inflation and exchange-rate destabilization?”


The central bank’s refinancing rate increase was targeted both at fighting inflation and at easing pressure on the Vietnamese dong, according to U.K.-based Capital Economics. On the free market the currency traded at 21,775 per dollar on Oct. 21, according to Viet Capital Securities, compared with an official rate of 20,992.


“Price pressures should continue to ease next year, but we still expect inflation to be in double-digits,” Capital Economics said on Oct. 21. “More policy tightening is likely.” (Bloomberg)



http://www.vietfinancenews.com/2011/10/october-inflation-slows-for-second.html#more


*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie
lexie
Elite Member
Elite Member

Posts : 1812
Join date : 2011-06-24

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum