Vietnam’s inflation to drop: Standard Chartered Vietnam’s inflation is expected to drop to 11.3 percent next year, according to Standard Chartered Bank’s latest report on the 2-year outlook for Vietnamese economic growth. The bank said inflation in Vietnam had begun slowing down and was expected to fall to 19.7 percent next month while the average full-year figure for 2012 was 11.3 percent. The bank said that the recently cooled global food prices plus the tightened monetary of the central bank would help combat the country’s inflation in the months to come. “We expect that inflation rate will retreat to the single-digit rate at the end of the first quarter of next year,” the bank said. But it said the tamed inflation was not enough for the government to loosen credit policies since there were other pressures facing the devaluation of the dong. [The devaluation] and the restriction of credit growth would continue to challenge the country next year, the bank said, adding the situation would also be worsened by the global economic crisis and the volatile export markets. Standard Chartered experts predicted that the dollar exchange rate next year would be VND20,600 a dollar, and 2012, VND22,000 a dollar. The… Read full this story
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