The Star Bulletin - Daily News Updates

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Banks have been asked to reduce rates to help boost economic growth

Banks have been asked to reduce rates to help boost economic growth

Banks have been asked to reduce rates to help boost economic growth. According to a document released recently banks are ordered to reduce operating expenses and unneeded expenses, in addition to administrative procedures, in order to allow for lending interest rates to aid the recovery of the economy and the growth. Banks have also been directed to continue to promote the government's interest rate support program for loans to cooperatives, businesses, and households in accordance with the Decree 31/2022/NDCP issued by the Government on May 20 20, 2022. "The SBV will monitor banks, which continue to raise interest rates, and…
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Global Economy Getting Close to a Receding, Central Banks Released

Global Economy Getting Close to a Receding, Central Banks Released

Global Economy Getting Close to a Receding, Central Banks Released The world economy is advancing towards recession, as economists interviewed by us repeatedly cut growth estimates for the major economies. Meanwhile, central banks are increasing interest rates in order to lower the rate of inflation that has been rising for years. A bright side is that many major economies currently in recession or about to enter one are experiencing relatively low levels of unemployment in comparison to prior recessions. In fact, the most recent poll predicts the narrowest gap between unemployment and growth over the course of at least four…
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