Vietnam asks lenders to reduce interest rates
Central bank says lower rates are needed to support country’s growth target
Vietnam’s central bank has asked lenders to reduce interest rates and keep deposit rates stable to support the country’s economy.
The State Bank of Vietnam (SBV) said in a statement today (August 5) that the move was aimed at boosting lending and helping the country meet the government’s 8% growth target for this year. It had previously told banks in February to minimise their operating costs and be prepared to take less profits to achieve lower lending rates.
According to SVB data, the average
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