State Bank of Vietnam cuts interest rates
Move comes after government’s call on the central bank to support businesses and economic growth
Vietnam’s central bank has cut its key interest rates by 50 basis points to support the country’s slowing economy.
The State Bank of Vietnam (SBV) said in a statement on June 16 that it was cutting the electronic interbank rate to 5%, the refinance rate to 4.5%, and the discount rate to 3%. The changes take effect today (June 19).
The move came after the government called for the central bank to take urgent measures to reduce interest rates to support businesses and economic growth. The
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