Monetary policy in responses to economic uncertainties: Evidence from the State Bank of Vietnam

Abstract

The paper aims at analyzing and evaluating policy measures carried out by the State Bank of Vietnam in response to economic uncertainties. Using document analysis and descriptive statistical methods with data in the period 2021- 2025, focusing on 2025, the paper assesses both the achievements and limitations in the monetary policy management of the State Bank of Vietnam, including the management of interest rates, credit activities, exchange rates, and the gold market. Based on these assessments, the research has proposed recommendations to further enhance the effectiveness of monetary policy management, such as the State Bank of Viietnam should continue to proactively monitor macroeconomic changes both internationally and domestically to have timely and flexible adjustments; focuse on stabilizing lending interest rates; control credit growth at reasonable levels; and integrate multiple solutions in controlling gold market.