"The central bank's message is to cut its rates...there will be another round of rate cuts," Tu was quoted by the Tuoi Tre newspaper as saying, without giving further details. The Southeast Asian country's economic growth slowed to 3.32% in the first quarter, against a 5.92% expansion in the fourth quarter of 2022, as weak global demand slashed exports.
Earlier this month, the central bank
cut several policy rates
to increase liquidity and support growth, in a surprise
move that set it apart from regional peers amid the global
financial turmoil.
Tu said future rate cuts would allow local commercial
banks to cut their lending rates, according to the report.
"We have abundant liquidity and we encourage lending,"
Tu was quoted as saying.
(Reporting by Khanh Vu
Editing by Ed Davies)
