Monetary policy in 2023: Empirical evidence from The State Bank of Viet Nam and some policy recommendations

Abstract

In responses to unexpectedly adverse developments in the international market and internal
economic weaknesses, the State Bank of Viet Nam has proactively deployed a comprehensive package
of monetary, credit and foreign exchange measures to curb inflation, and support economic growth in
2023. By employing the qualitative method for secondary data, the research aims to evaluate the monetary
policy implemented by the State Bank of Vietnam in 2023. Therefore, the research suggests policy
recommendations to enhance effectiveness of transmission mechanism of monetary policy in future