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Central bank won’t change rates on inflation   2008-04-27 - TBKTSG

The central bank will not change the benchmark interest rate on inflation as its short-term credit measures have been effective.  
Vietnam’s central bank will not change the benchmark interest rate because month-on-month increases in inflation show recent policy measures have been effective, according to Governor Nguyen Van Giau.



Consumer prices in the Southeast Asian nation surged 21.4 percent this month from April 2007, the most since at least 1992, according to figures released Friday by the General Statistics Office in Hanoi.

From a month earlier, prices rose 2.2 percent, compared with gains of 3 percent in March from February.

“We are fine with this month’s inflation since we care more about month-on-month prices, and on a monthly basis you can see that inflation has slowed down and showed that the central bank’s short-term measures have been effective,’’ Giau said Friday

“So we will keep the base rate at its current level of 8.75 percent.’’

The State Bank of Vietnam has raised interest rates, increased bank reserves and sold compulsory bills this year in a bid to slow money-supply growth and combat inflation.

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