Vietnam slashes to meet growth target

The State Bank of Vietnam cut its base interest rate by 150 basis points to 7% on Friday, taking borrowing costs to half of the level they were last summer.

The cut, which was the sixth since the collapse of Lehman Brothers, comes on the back of a slump in exports and a decline in growth from 8.5% in 2007 to 6.23% last year.

"The above-mentioned movements aim at implementing urgent measures to proactively prevent economic recession, stabilise production, business and jobs, and secure social p

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