Vietnam's inflation rockets to a depressing 7%
Looks like its aggressive monetary easing isn't very effective.
According to BBVA Research, Vietnam's inflation in October edged up to 7.0% y/y (consensus: 6.8% y/y) after a 6.5% y/y outturn in September. "Vietnam's central bank has applied aggressive monetary easing during the year in order to prop growth (500 bps worth of interest rate cuts). Rising inflation is narrowing the room for further easing, despite the likelihood that growth will probably miss the government's target of 6% for this year," BBVA added.