Since Tet, many banks have simultaneously reduced interest rates. MBS Securities quoted a survey by Bloomberg showing that the overnight interbank interest rate is trading at 3.58%\/year, down sharply from 5.9% at the end of last month. Interest rates for other terms are also around 3.98% – 6.0%\/year, down more than 2 percentage points compared to the end of last month.<\/p>\n\n\n\n
Deposit interest rates of banks continue to show a downward trend. Currently, deposit interest rates are falling sharply with a decrease of about 1-2%\/year compared to the peak period.<\/p>\n\n\n\n
Notably, the change took place not only in the group of private banks but also in the group of state-owned banks. The online savings interest rate has been reduced to the listed level at the counter, instead of as high as before. According to MBS, currently the highest deposit interest rate of listed commercial banks is about 9.45%\/year.<\/p>\n\n\n\n
In fact, the cooled interest rate brings many expectations to the stock market, because many people think that the top of interest rates is the bottom of stocks.<\/p>\n\n\n\n
Sharing with us, Mr. Tran Duc Anh – Director of Macroeconomics and Securities Market Strategy of KB Securities (KBSV) acknowledged that interest rates have decreased by 0.5-1% depending on the term compared to the peak level set. . The interest rate level is expected to continue its downward trend in the coming time when the interest rate increase trend of central banks in the world gradually cools down. Even if a recession occurs, the Fed could lower interest rates by the end of 2023.<\/p>\n\n\n\n
According to experts, one of the key reasons for the market’s deep decline in 2022 is the sharp increase in interest rates. Therefore, the expectation that interest rates will cool down in the near future will be an important driving force for the market’s recovery in 2023. In particular, the stock market always reflects ahead of expectations from 2 \u2013 2. 3 quarters, so this is also the time when investors need to observe to seize opportunities.<\/p>\n\n\n\n
Besides, experts said that government bond yields also dropped. After maintaining high deposit interest rates for a long time, most banks have mobilized large capital sources from the population. The State Bank also made a move to buy foreign currencies from the beginning of the year about 3 billion USD, with abundant liquidity again, causing the demand to buy primary bonds to return and helping the yield of Government bonds to decrease significantly. This is also a positive indicator for the stock market.<\/p>\n\n\n\n![\"Banks](\"https:\/\/cafefcdn.com\/203337114487263232\/2023\/2\/22\/photo-1-167703574724021961545.png\" "\\"Banks")
<\/a><\/figure>\n\n\n\n