10:37 | 20/09/2019 Finance - Banking
The State Bank of Vietnam (SBV) has decided to cut a range of policy interest rates by 0.25 percentage point with effect from September 16.
|The headquarters of the State Bank of Vietnam|
The annual refinancing rate will be cut from 6.25% to 6% while the rediscount rate will be lowered to 4% from the current 4.25%. The overnight lending rate will also go down from 7.25% to 7%.
According to the SBV, in the previous period when international interest rates increased, the central bank adopted synchronous monetary policies to stabilise interest rates and help stabilise the macroeconomy and support growth.
Recently a less robust global economy has caused many central banks such as the US Federal Reserve and the European Central Bank to lower their interest rates.
At home, the domestic economy continues to be stable, inflation is kept under control and the monetary and foreign exchange market are stable.