{"id":32086,"date":"2017-10-22T09:21:16","date_gmt":"2017-10-22T09:21:16","guid":{"rendered":"http:\/\/baovietduc.de\/?p=32086"},"modified":"2017-10-22T09:21:16","modified_gmt":"2017-10-22T09:21:16","slug":"ts-nguyen-tri-hieu-ngan-hang-nha-nuoc-nen-hoc-fed-cach-dieu-hanh-lai-suat","status":"publish","type":"post","link":"https:\/\/baovietduc.de\/2017\/10\/ts-nguyen-tri-hieu-ngan-hang-nha-nuoc-nen-hoc-fed-cach-dieu-hanh-lai-suat\/","title":{"rendered":"TS. Nguy\u1ec5n Tr\u00ed Hi\u1ebfu: Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc n\u00ean h\u1ecdc Fed c\u00e1ch \u0111i\u1ec1u h\u00e0nh l\u00e3i su\u1ea5t"},"content":{"rendered":"

BVD – Hi\u1ec7n Vi\u1ec7t Nam kh\u00f4ng c\u00f3 l\u00e3i su\u1ea5t trung t\u00e2m \u0111\u1ec3 \u0111i\u1ec1u h\u00e0nh l\u00e3i su\u1ea5t th\u1ecb tr\u01b0\u1eddng, v\u00ec hai lo\u1ea1i l\u00e3i su\u1ea5t l\u00e0 l\u00e3i su\u1ea5t li\u00ean ng\u00e2n h\u00e0ng v\u00e0 l\u00e3i su\u1ea5t cho vay c\u00e1 nh\u00e2n, doanh nghi\u1ec7p kh\u00f4ng k\u1ebft n\u1ed1i v\u1edbi nhau.<\/strong>
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TS. Nguy\u1ec5n Tr\u00ed Hi\u1ebfu, chuy\u00ean gia t\u00e0i ch\u00ednh \u2013 ng\u00e2n h\u00e0ng.<\/em><\/p>\n

T\u1ea1i cu\u1ed9c h\u1ed9i th\u1ea3o N\u00e2ng cao hi\u1ec7u qu\u1ea3 k\u1ebft n\u1ed1i ng\u00e2n h\u00e0ng \u2013 doanh nghi\u1ec7p do Ph\u00f2ng Th\u01b0\u01a1ng m\u1ea1i v\u00e0 C\u00f4ng nghi\u1ec7p Vi\u1ec7t Nam (VCCI) v\u00e0 Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc t\u1ed5 ch\u1ee9c t\u1ea1i TP.HCM, TS. Nguy\u1ec5n Tr\u00ed Hi\u1ebfu, chuy\u00ean gia t\u00e0i ch\u00ednh \u2013 ng\u00e2n h\u00e0ng \u0111\u00e3 \u0111\u00e1nh gi\u00e1 ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u1ee7a Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc th\u1eddi gian qua \u0111\u00e3 gi\u00fap th\u1ecb tr\u01b0\u1eddng ti\u1ec1n t\u1ec7 \u1ed5n \u0111\u1ecbnh tr\u1edf l\u1ea1i, t\u1ef7 gi\u00e1 kh\u00f4ng bi\u1ebfn \u0111\u1ed9ng nhi\u1ec1u, l\u00e3i su\u1ea5t \u0111\u00e3 gi\u1ea3m so v\u1edbi tr\u01b0\u1edbc.<\/p>\n

Tuy nhi\u00ean, v\u1ea5n \u0111\u1ec1 l\u00e0 \u1ed5n \u0111\u1ecbnh th\u1ecb tr\u01b0\u1eddng ti\u1ec1n t\u1ec7 l\u00e2u d\u00e0i, kh\u00f4ng c\u00f3 nh\u1eefng cung b\u1eadc qu\u00e1 cao hay qu\u00e1 tr\u1ea7m c\u00f3 th\u1ec3 x\u1ea3y ra g\u00e2y kh\u00f3 kh\u0103n cho ho\u1ea1t \u0111\u1ed9ng c\u1ee7a nhi\u1ec1u doanh nghi\u1ec7p…<\/p>\n

TS. Nguy\u1ec5n Tr\u00ed Hi\u1ebfu cho r\u1eb1ng Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc Vi\u1ec7t Nam n\u00ean h\u1ecdc h\u1ecfi c\u00e1ch \u0111i\u1ec1u h\u00e0nh l\u00e3i su\u1ea5t c\u1ee7a C\u1ee5c d\u1ef1 tr\u1eef li\u00ean bang Hoa K\u1ef3 (Fed).<\/p>\n

Theo m\u00f4 h\u00ecnh ho\u1ea1t \u0111\u1ed9ng c\u1ee7a Fed th\u00ec ng\u01b0\u1eddi \u0111\u1ee9ng \u0111\u1ea7u Fed l\u00e0 Ch\u1ee7 t\u1ecbch, c\u00f4ng vi\u1ec7c c\u1ee7a Ch\u1ee7 t\u1ecbch l\u00e0 t\u1eadp trung ho\u00e0n to\u00e0n v\u00e0o vi\u1ec7c \u0111i\u1ec1u h\u00e0nh n\u1ec1n kinh t\u1ebf v\u00e0 Fed c\u00f3 c\u00e1c chuy\u00ean gia \u1edf m\u1ecdi l\u0129nh v\u1ef1c kinh t\u1ebf trong n\u01b0\u1edbc v\u00e0 qu\u1ed1c t\u1ebf.<\/p>\n

C\u1ea5u tr\u00fac ho\u1ea1t \u0111\u1ed9ng c\u1ee7a Fed g\u1ed3m: H\u1ed9i \u0111\u1ed3ng th\u1ed1ng \u0111\u1ed1c; \u1ee6y ban th\u1ecb tr\u01b0\u1eddng; C\u00e1c Ng\u00e2n h\u00e0ng c\u1ee7a Fed; C\u00e1c ng\u00e2n h\u00e0ng th\u00e0nh vi\u00ean. Trong \u0111\u00f3, hai c\u01a1 quan quan tr\u1ecdng nh\u1ea5t, g\u1ed3m: Ban Th\u1ed1ng \u0111\u1ed1c c\u1ee7a H\u1ec7 th\u1ed1ng d\u1ef1 tr\u1eef li\u00ean bang (FRS) v\u00e0 \u1ee6y ban Th\u1ecb tr\u01b0\u1eddng m\u1edf li\u00ean bang (FOMC). Ch\u1ee7 t\u1ecbch Fed s\u1ebd \u0111\u01b0\u1ee3c b\u1ea7u l\u00e0m Ch\u1ee7 t\u1ecbch FRS nh\u01b0ng kh\u00f4ng m\u1eb7c nhi\u00ean l\u00e0 Ch\u1ee7 t\u1ecbch FOMC – c\u01a1 quan quy\u1ec1n l\u1ef1c nh\u1ea5t ki\u1ec3m so\u00e1t l\u00e3i su\u1ea5t c\u01a1 b\u1ea3n, c\u00f4ng c\u1ee5 ch\u00ednh trong ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u1ee7a M\u1ef9.<\/p>\n

V\u1edbi m\u00f4 h\u00ecnh ho\u1ea1t \u0111\u1ed9ng nh\u01b0 v\u1eady, Fed \u0111i\u1ec1u ch\u1ec9nh l\u00e3i su\u1ea5t m\u1ee5c ti\u00eau qua nh\u1eefng quy\u1ebft \u0111\u1ecbnh c\u1ee7a FOMC h\u1ecdp 08 l\u1ea7n\/n\u0103m. Ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i s\u1ebd \u0111i\u1ec1u ch\u1ec9nh l\u00e3i su\u1ea5t th\u01b0\u01a1ng m\u1ea1i xoay quanh l\u00e3i su\u1ea5t m\u1ee5c ti\u00eau \u0111\u00f3.<\/p>\n

\u0110\u1ec3 \u0111i\u1ec1u h\u00e0nh l\u00e3i su\u1ea5t c\u01a1 b\u1ea3n, m\u1ed7i ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i ph\u1ea3i b\u00e1o c\u00e1o cho ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng d\u1ef1 tr\u1eef b\u1eaft bu\u1ed9c c\u1ee7a m\u00ecnh. Hi\u1ec7n m\u1ee9c d\u1ef1 tr\u1eef b\u1eaft bu\u1ed9c \u1edf M\u1ef9 l\u00e0 10% (Vi\u1ec7t Nam l\u00e0 3%), n\u1ebfu ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i M\u1ef9 01 \u0111\u00eam kh\u00f4ng duy tr\u00ec \u0111\u01b0\u1ee3c m\u1ee9c d\u1ef1 tr\u1eef n\u00e0y s\u1ebd b\u1ecb ph\u1ea1t v\u00e0 ph\u1ea3i vay m\u01b0\u1ee3n tr\u00ean li\u00ean ng\u00e2n h\u00e0ng ho\u1eb7c vay t\u1eeb Fed.<\/p>\n

Theo \u00f4ng Hi\u1ebfu, doanh nghi\u1ec7p Vi\u1ec7t Nam kh\u00f4ng n\u00ean qu\u00e1 k\u00eau ca v\u1ec1 m\u1ee9c l\u00e3i su\u1ea5t cho vay hi\u1ec7n nay, v\u00ec \u0111\u1ed1i v\u1edbi doanh nghi\u1ec7p l\u1edbn, t\u1ed1t \u0111\u01b0\u1ee3c vay v\u1edbi l\u00e3i su\u1ea5t ch\u1ec9 6%\/n\u0103m. V\u1ea5n \u0111\u1ec1 \u1edf \u0111\u00e2y l\u00e0 l\u00e3i su\u1ea5t cho vay c\u1ee7a c\u00e1c ng\u00e2n h\u00e0ng th\u01b0\u01a1ng m\u1ea1i ph\u1ea3i \u1ed5n \u0111\u1ecbnh l\u00e2u d\u00e0i \u0111\u1ec3 c\u00e1c doanh nghi\u1ec7p c\u00f3 k\u1ebf ho\u1ea1ch cho s\u1ea3n xu\u1ea5t kinh doanh \u1ed5n \u0111\u1ecbnh, hi\u1ec7u qu\u1ea3 h\u01a1n.<\/p>\n

TS. Nguy\u1ec5n Tr\u00ed Hi\u1ebfu \u0111\u1ec1 ngh\u1ecb ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc Vi\u1ec7t Nam n\u00ean x\u00e2y d\u1ef1ng c\u01a1 ch\u1ebf \u0111i\u1ec1u h\u00e0nh l\u00e3i su\u1ea5t c\u01a1 b\u1ea3n t\u01b0\u01a1ng t\u1ef1 Fed. Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc thi\u1ebft l\u1eadp l\u00e3i su\u1ea5t trung t\u00e2m cho th\u1ecb tr\u01b0\u1eddng ng\u00e2n h\u00e0ng, t\u1eeb \u0111\u00f3 l\u00e0m c\u01a1 s\u1edf cho l\u00e3i su\u1ea5t huy \u0111\u1ed9ng, cho vay h\u00ecnh th\u00e0nh t\u1eeb cung – c\u1ea7u th\u1ecb tr\u01b0\u1eddng. C\u01a1 ch\u1ebf n\u00e0y \u0111\u00f2i h\u1ecfi s\u1ef1 li\u00ean th\u00f4ng gi\u1eefa c\u00e1c th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh.<\/p>\n

V\u00ec t\u1ea1i Vi\u1ec7t Nam hi\u1ec7n nay, c\u00f3 02 lo\u1ea1i l\u00e3i su\u1ea5t: l\u00e3i su\u1ea5t li\u00ean ng\u00e2n h\u00e0ng (l\u00e3i su\u1ea5t th\u1ecb tr\u01b0\u1eddng 2) v\u00e0 l\u00e3i su\u1ea5t cho vay c\u00e1 nh\u00e2n, doanh nghi\u1ec7p (l\u00e3i su\u1ea5t th\u1ecb tr\u01b0\u1eddng 1), hai lo\u1ea1i l\u00e3i su\u1ea5t n\u00e0y kh\u00f4ng k\u1ebft n\u1ed1i v\u1edbi nhau. Vi\u1ec7t Nam kh\u00f4ng c\u00f3 l\u00e3i su\u1ea5t trung t\u00e2m \u0111\u1ec3 \u0111i\u1ec1u h\u00e0nh l\u00e3i su\u1ea5t th\u1ecb tr\u01b0\u1eddng.<\/p>\n

Tr\u1ea3 l\u1eddi v\u1ea5n \u0111\u1ec1 n\u00e0y, \u00f4ng \u0110\u00e0o Minh T\u00fa, Ph\u00f3 Th\u1ed1ng \u0111\u1ed1c Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc Vi\u1ec7t Nam, cho bi\u1ebft ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u1ee7a ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc \u0111\u01b0\u1ee3c \u0111i\u1ec1u h\u00e0nh c\u00f4ng khai, minh b\u1ea1ch, \u0111i\u1ec1u n\u00e0y \u0111\u01b0\u1ee3c \u0111\u1ec3 l\u1ea1i t\u1eeb Th\u1ed1ng \u0111\u1ed1c nhi\u1ec7m k\u1ef3 tr\u01b0\u1edbc. Ngh\u0129a l\u00e0 ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc cam k\u1ebft t\u1ef7 gi\u00e1 trong n\u0103m ch\u1ec9 bi\u1ebfn \u0111\u1ed9ng 1-2% th\u00ec ch\u1ec9 bi\u1ebfn \u0111\u1ed9ng trong kho\u1ea3ng \u0111\u00f3 \u0111\u1ec3 t\u1ea1o ni\u1ec1m tin v\u00e0o ng\u01b0\u1eddi d\u00e2n.<\/p>\n

Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc v\u1eabn kh\u1eb3ng \u0111\u1ecbnh \u1ed5n \u0111\u1ecbnh t\u1ef7 gi\u00e1 v\u00ec ch\u01b0a bao gi\u1edd d\u1ef1 tr\u1eef ngo\u1ea1i h\u1ed1i t\u0103ng cao k\u1ef7 l\u1ee5c t\u1edbi 45 t\u1ef7 USD, cao nh\u1ea5t t\u1eeb tr\u01b0\u1edbc t\u1edbi nay.<\/p>\n

V\u1edbi ngu\u1ed3n ngo\u1ea1i t\u1ec7 d\u1ed3i d\u00e0o, Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc ch\u1ee7 \u0111\u1ed9ng can thi\u1ec7p t\u1ef7 gi\u00e1 n\u1ebfu c\u00f3 bi\u1ebfn \u0111\u1ed9ng v\u00e0 ch\u1ee7 \u0111\u1ed9ng cung \u1ee9ng nhu c\u1ea7u ngo\u1ea1i t\u1ec7 c\u1ee7a doanh nghi\u1ec7p.<\/p>\n

Tr\u01b0\u1edbc \u0111\u00e2y, m\u1ed9t s\u1ed1 doanh nghi\u1ec7p ca th\u00e1n v\u1ec1 vi\u1ec7c kh\u00f4ng vay \u0111\u01b0\u1ee3c ngo\u1ea1i t\u1ec7, nh\u01b0ng Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc ph\u1ea3i xem x\u00e9t m\u1ee5c \u0111\u00edch vay, ngu\u1ed3n ngo\u1ea1i t\u1ec7 tr\u1ea3 n\u1ee3 n\u1ebfu kh\u00f4ng \u0111\u00fang s\u1ebd kh\u00f4ng cho vay, v\u00ec \u0111\u00e3 c\u00f3 doanh nghi\u1ec7p l\u1ee3i d\u1ee5ng ch\u00ednh s\u00e1ch \u0111\u1ec3 vay ngo\u1ea1i t\u1ec7 r\u1ed3i s\u1eed d\u1ee5ng kh\u00f4ng \u0111\u00fang m\u1ee5c \u0111\u00edch… Do \u0111\u00f3, Ng\u00e2n h\u00e0ng Nh\u00e0 n\u01b0\u1edbc s\u1ebd si\u1ebft \u0111\u1ed1i t\u01b0\u1ee3ng \u0111\u01b0\u1ee3c vay ngo\u1ea1i t\u1ec7 trong th\u1eddi gian t\u1edbi, xu h\u01b0\u1edbng s\u1ebd chuy\u1ec3n quan h\u1ec7 vay m\u01b0\u1ee3n ngo\u1ea1i t\u1ec7 sang mua b\u00e1n ngo\u1ea1i t\u1ec7.\/.<\/p>\n

 <\/p>\n

(bizlive)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

BVD – Hi\u1ec7n Vi\u1ec7t Nam kh\u00f4ng c\u00f3 l\u00e3i su\u1ea5t trung t\u00e2m \u0111\u1ec3 \u0111i\u1ec1u h\u00e0nh l\u00e3i su\u1ea5t th\u1ecb tr\u01b0\u1eddng, v\u00ec hai lo\u1ea1i l\u00e3i su\u1ea5t l\u00e0 l\u00e3i su\u1ea5t li\u00ean ng\u00e2n h\u00e0ng v\u00e0 l\u00e3i su\u1ea5t cho vay c\u00e1 nh\u00e2n, doanh nghi\u1ec7p kh\u00f4ng k\u1ebft n\u1ed1i v\u1edbi nhau. TS. Nguy\u1ec5n Tr\u00ed Hi\u1ebfu, chuy\u00ean gia t\u00e0i ch\u00ednh \u2013 ng\u00e2n h\u00e0ng. T\u1ea1i […]<\/p>\n","protected":false},"author":2,"featured_media":32088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[113,136,111],"tags":[3454],"_links":{"self":[{"href":"https:\/\/baovietduc.de\/wp-json\/wp\/v2\/posts\/32086"}],"collection":[{"href":"https:\/\/baovietduc.de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baovietduc.de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baovietduc.de\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/baovietduc.de\/wp-json\/wp\/v2\/comments?post=32086"}],"version-history":[{"count":0,"href":"https:\/\/baovietduc.de\/wp-json\/wp\/v2\/posts\/32086\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/baovietduc.de\/wp-json\/wp\/v2\/media\/32088"}],"wp:attachment":[{"href":"https:\/\/baovietduc.de\/wp-json\/wp\/v2\/media?parent=32086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baovietduc.de\/wp-json\/wp\/v2\/categories?post=32086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baovietduc.de\/wp-json\/wp\/v2\/tags?post=32086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}