Vietnam State Bank readies measures to counter tariff impact

FILE PHOTO: A Vietamese commercial bank employee counts Vietnamese dong notes at a branch in Hanoi on November 26, 2009. The central bank will continue to manage the dong in a flexible manner and use monetary policy tools to keep the FX market stable. - AFP

HANOI: Vietnam’s central bank stands ready to take steps to curb inflation and support growth, as it warns about the impact of higher US tariffs on the economy and its currency.

Risks in global markets are "putting pressure on the management of monetary policies, exchange rates, and interest rates domestically, as well as on our efforts to achieve the 2025 economic growth target of eight per cent or higher,” State Bank of Vietnam Deputy Governor Pham Thanh Ha said at a briefing in Hanoi Tuesday (July 8).