Vietnam raises rates for second consecutive month
Move comes after SBV devalued currency against dollar as inflation is close to central bank target
The State Bank of Vietnam raised its policy rates on October 25 by 100 basis points to curb rising inflation.
The SBV raised the refinancing rate from 5% to 6% and increased the discount rate from 3.5% to 4.5%.
This was the second consecutive meeting that the central bank had raised rates. The SBV had delivered a 100bp hike on September 22, after keeping its re-financing rate unchanged at 4% since late 2020.
The move comes just over a week after the central bank effectively devalued the
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