State Bank of Vietnam cuts interest rate
Central bank says Vietnam’s economic growth has faced difficulties
Vietnam’s central bank decided to cut a key interest rate on March 31 to support economic growth, the second rate cut in a month.
The State Bank of Vietnam lowered its benchmark refinancing rate by 50 basis points from 6% to 5.5%. It kept the discount rate unchanged at 3.5% and held the overnight interbank lending rate at 6%. The decisions took effect on April 3.
The SBV also lowered the ceilings for interest rates on dong-denominated deposits by 50bp to between 0.5% and 6%, depending on their
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