Vietnam and Taiwan raise interest rates after Fed hike

State Bank of Vietnam, Hanoi
The State Bank of Vietnam

The central banks of Vietnam and Taiwan raised their policy rates on September 22 after the US Federal Reserve delivered its fifth rate hike this year.

Several other Asian central banks, including those of the Philippines, Indonesia, Hong Kong and Macau also decided to raise rates on the same day.

Vietnam’s central bank had left its key rates unchanged since late 2020 but surprised markets by raising its policy rate by 100 basis points. The State Bank of Vietnam raised the refinancing interest

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