Vietnam Insight

Global stocks continue to fall. U.S. stocks closed lower for a fourth straight session on Monday, as recession fears increased after the Federal Reserve took a more hawkish tone than expected last week.

Domestic stocks retreated under selling pressure. According to the Vietnam Banks Association (VNBA), credit institutions have agreed with the direction of the State Bank and supported the proposal of a maximum rate of 9.5%/year for deposit interest rates for terms. However, in fact, many banks are still mobilizing with high interest rates from 10 to 11% per year.

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