3.2.2. solution of Group increase the transmission of monetary policy 3.2.2.1. Group solutions help improve the tools of monetary policyTo improve the efficiency of the process of enforcing monetary policy requires fast improve the tools of monetary policy aiming at further alignment practices of Vietnam's economy. These tools need to be built and perfected in the direction of mutual support, coordinate with each other to avoid the mutual intent of this tool. We started going into each of the tools. interest tools: adjusting interest rates need to be flexible and tied to market practices under the principle of benefit for both sides is the depositors and the Bank. Gradually lower the ceiling interest rates gradually mobilized and other interest from which to pull off the interest rate for the loan. And these again need according to the factors such as the level of inflation, the average profits of enterprises, interest rate developments on world markets, ... The most important goal in the run of interest tool is driven to liberalise interest rates, by the time the new interest rate really reflect true supply and demand of capital in the market price of the Bank. maintain and incrementally decreasing the disparity between interest rates and the local currency exchange, every step towards limiting the phenomenon of "dollars" the economy. We are doing quite well this, primarily due to the interest rate on the market sharply narrowed the difference in interest rates between the two currencies. The phenomenon must be reduced but mostly chemistry dollars recently due to administrative measures, not to have a solid seat, for example as a stable position of the USD in the long term. step by step development of national financial systems, enhance the role of the marketstock in the economy, help the people aware of the stock the stock is a channel to mobilize long-term capital for enterprises in the economy. Put the Bank on its inherent duties properly is providing short term capital. loan tool member discount, refinancing loan: With the lending activities of re-discount, the first thing to promote forms of commercial credit, i.e. the need to expedite the activities put negotiable Ordinance goes into effect. While developed countries, negotiable securities and derivatives have developed strong, then we left Vietnam to this market. Our country is one of the countries the people connected to the Internet are very high, so do not take advantage of this to market development and trade votes is a Miami. to further develop inter-bank currency market to the State Bank has more precise basis in defining the interest rate discount of republished accordingly, help to create a good signal for the business activities of the commercial banks. for open market operations tools: open market operations are seen as flexible and effective tool of monetary policy. So we are more interested to this profession through measures such as: track, predict the available capital of the Bank, giving its dimension of inflation to make the decision to intervene in the market at the open, with how much volume. need regulations on the tool, audience participation open and flexible market mechanism in the sale in the open market. promote the process of creating products for the market opening: release increase bills, Treasury bonds, bills issued by the State Bank, allowing commercial banks to release these types of certificates of deposit. synchronous development other related markets such as interbank market and the secondary market.
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