I- Restaurant
ĂIÏÌU HAĐNH CHÑNH SAÂCH TIÏÌN TÏơ NÙM
NÙM 2007
Nùm 2007 lađ nùm thûâ 2 caê nûúâc phíịn khúêi triïín khai Nghõ quýịt Ăaơi höơi Ăaêng toađn quöịc líìn thûâ 10, nùm ăíìu tiïn nûúâc ta trúê thađnh thađnh viïn WTO, múê ra nhiïìu thúđi cú, cú höơi múâi. Tuy nhiïn, thaâch thûâc lúân nhíịt trong thûơc thi CSTT cuêa NHNN nùm 2007 ăoâ lađ nhíơp siïu úê mûâc cao lađm tùng thím huơt caân cín vaông lai; dođng vöịn ăíìu tû nûúâc ngoađi tùng maơnh, laơm phaât coâ xu hûúâng tùng maơnh trong böịi caênh kinh tïị vađ thõ trûúđng tađi chñnh quöịc tïị coâ nhiïìu biïịn ăöơng khoâ lûúđng gíy sûâc eâp ăöịi vúâi ăiïìu hađnh tyê giaâ vađ viïơc kiïím soaât töíng phûúng tiïơn thanh toaân vađ tñn duơng. Trong böịi caênh ăoâ, NHNN ăaô thûơc hiïơn CSTT theo hûúâng ăiïìu hađnh CSTT linh hoaơt ăaêm baêo öín ắnh tiïìn tïơ, kiïìm chïị laơm phaât vađ thuâc ăííy tùng trûúêng kinh tïị; Triïín khai ăöìng böơ caâc giaêi phaâp ăiïìu hađnh tiïìn tïơ nhùìm kiïím soaât mûâc tùng töíng phûúng tiïơn thanh toaân vađ tùng trûúêng tñn duơng, ăaâp ûâng nhu cíìu vöịn phuơc vuơ muơc tiïu tùng trûúêng kinh tïị.
Nùm 2007 lađ nùm thûâ 2 caê nûúâc phíịn khúêi triïín khai Nghõ quýịt Ăaơi höơi Ăaêng toađn quöịc líìn thûâ 10, nùm ăíìu tiïn nûúâc ta trúê thađnh thađnh viïn WTO, múê ra nhiïìu thúđi cú, cú höơi múâi. Tuy nhiïn, thaâch thûâc lúân nhíịt trong thûơc thi CSTT cuêa NHNN nùm 2007 ăoâ lađ nhíơp siïu úê mûâc cao lađm tùng thím huơt caân cín vaông lai; dođng vöịn ăíìu tû nûúâc ngoađi tùng maơnh, laơm phaât coâ xu hûúâng tùng maơnh trong böịi caênh kinh tïị vađ thõ trûúđng tađi chñnh quöịc tïị coâ nhiïìu biïịn ăöơng khoâ lûúđng gíy sûâc eâp ăöịi vúâi ăiïìu hađnh tyê giaâ vađ viïơc kiïím soaât töíng phûúng tiïơn thanh toaân vađ tñn duơng. Trong böịi caênh ăoâ, NHNN ăaô thûơc hiïơn CSTT theo hûúâng ăiïìu hađnh CSTT linh hoaơt ăaêm baêo öín ắnh tiïìn tïơ, kiïìm chïị laơm phaât vađ thuâc ăííy tùng trûúêng kinh tïị; Triïín khai ăöìng böơ caâc giaêi phaâp ăiïìu hađnh tiïìn tïơ nhùìm kiïím soaât mûâc tùng töíng phûúng tiïơn thanh toaân vađ tùng trûúêng tñn duơng, ăaâp ûâng nhu cíìu vöịn phuơc vuơ muơc tiïu tùng trûúêng kinh tïị. múê ăaô coâ nhûông ăöíi múâi nhû cöị ắnh phiïn mua nhùìm khùưc phuơc haơn chïị cuêa thõ trûúđng tiïìn tïơ, thay ăöíi phûúng thûâc ăíịu thíìu nhùìm baâm saât muơc tiïu ăiïìu hađnh CSTT vađ diïîn biïịn vöịn bùìng VND cuêa caâc TCTD. Trong nùm 2007, coâ 20 thađnh viïn tham gia, göìm caâc NHTM nhađ nûúâc, caâc NHTM cöí phíìn, ngín hađng liïn
MONETARY POLICY MANAGEMENT IN 2007 MANAGEMENT IN 2007
The year 2007 was the second year the whole country had been eager to implement the Resolution of the 10th Communist Party Congress and the first year of the WTO mem- bership, which opened many new opportunities and chances. However, biggest challenges in monetary policy management of the year was trade deficit at high level leading to an increase in the current account deficit; a sharp increase in foreign investment inflows, inflation in a surg- ing trend given many unpredictable fluctuations in the global economy and financial markets which put pressures on exchange rate manage- ment and total liquidity and credit control. In this context, the SBV implemented monetary policy in a flexible direction to ensure monetary stabili- ty, inflation curb and better economic growth. The SBV also took comprehensive measures in monetary management in order to control total liquidity growth and credit growth, meeting the capital demand for economic growth.
* Manage money supply throughopen market operations open market operations
Open market operations (OMO) is one of the major instruments to manage funds of credit institutions. There were several reforms in OMOs in 2007 such as fixing buying sessions in order to overcome monetary markets' short- comings, changing auction methods to closely follow objectives of monetary policy manage- ment as well as VND liquidity of credit institu- tions. In 2007, OMO participants were 20, including state-owned commercial banks, joint- stock commercial banks, joint-venture banks
HOAƠT ĂÖƠNG CUÊA NGÍN HAĐNG NHAĐ NÛÚÂC