Vietnam SBV Decides to Raise Benchmark Interest Rate to 8% early December
The State Bank of Vietnam, the country’s central bank, said on November 25 it has decided to raise benchmark interest rate by one percentage point to 8% effective from December 1, 2009.
The central bank also decided to raise refinancing and rediscount rates to 8% and 6% from 7% and 5%, respectively.
The move is aimed to tighten credit growth to stabilize the macro situation and support local banks to raise funds, it noted.
Vietnam’s central bank has maintained the benchmark interest rate unchanged at 7% over the past ten months. (SBV)
Vietnamese
