State Bank cuts key rates to spur growth

April 02, 2023

HÀ NỘI - The State Bank of Việt Nam (SBV) announced it would reduce several policy interest rates from Monday, the regulator announced on its website Friday night. "In order to extricate the obstacles for the economy, businesses and citizens, the SBV decided a further cut on the policy rate," it said in a website statement. Refinancing rate will be revised down to 5.5 per cent from 6 per cent, while the discount rate will remain unchanged at 3.5 per cent. Việt Nam's economy reduced its speed to 3.32 per cent growth in the first quarter from a 5.92 per cent expansion in the fourth quarter of 2022. Earlier this month, the SBV also cut several policy rates, its first policy easing since late 2020 after a series of interest rate increases.

The source of this news is from Vietnam News

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