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Vietnam Central Bank Cuts Rediscount Rate by 100bps

ASIA

The Vietnam central bank cuts the rediscount rate by 100bps to 3.5%, and keeps the refinancing rate unchanged at 6.00%.

Statement highlights here:

  • The refinancing interest rate remained unchanged at 6%/year, the rediscount rate decreased from 4.5%/year to 3.5%/year; interest rates for overnight loans in interbank electronic payments and loans to make up for shortfalls in clearing payments by the SBV for credit institutions decreased from 7.0%/year to 6.0%/year
  • The maximum short-term lending interest rate in VND of credit institutions for borrowers to meet their capital needs. a number of economic fields and branches decreased from 5.5%/year to 5.0%/year

Notification is here (in Vietnamese)

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