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Vietnam CB to Cut Rates

Vietnam CB to Cut RatesVietnam CB to Cut Rates

The State Bank of Vietnam, the central bank, said it would cut several interest rates to support economic growth and control inflation, Reuters reported. The annual refinancing rate, rediscount rate, overnight electronic interbank rate and rate of loans to offset capital shortage in clearance between the SBV and domestic banks would be cut by 0.25 percentage points each from July 10, the central bank said in a statement. The annual maximum short-term interest rate for loans in the dong currency by financial situations in some sectors would also be cut by 0.5 percentage points from July 10, SBV said without elaborating which sector.

 

 

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