At the government’s July regular meeting, Prime Minister Pham Minh Chinh set out monetary-policy priorities for the State Bank of Vietnam (SBV), including an instruction to urgently submit proposed amendments to Decree 24 governing the gold market. The directions were framed around maintaining macroeconomic stability, controlling inflation, and supporting growth through coordinated fiscal and monetary policy. Monetary policy was to be proactive and flexible in line with developments, with a stated focus on stabilising the exchange rate. The banking system was instructed to strengthen governance and cut costs to help reduce interest rates, while tightening control of non-performing loans and directing credit flows toward growth drivers. The meeting also reviewed recent macro indicators including average CPI inflation of 3.19% in July and 3.26% over the first seven months of 2025.
State Bank of Vietnam 2025-08-07
State Bank of Vietnam tasked to urgently propose amendments to Decree 24 on gold market management and support lower interest rates with exchange rate stability
Prime Minister Pham Minh Chinh outlined monetary-policy priorities for the State Bank of Vietnam, emphasizing macroeconomic stability, inflation control, and growth support. The SBV was instructed to urgently propose amendments to Decree 24 on the gold market and focus on exchange rate stabilization. The banking system is to enhance governance, reduce costs, and manage non-performing loans while directing credit to growth sectors.