The headquarters of the State Bank of Vietnam in Hanoi (Photo: State Bank of Vietnam)
Hanoi (VNA) – The State Bank of Vietnam (SBV) said the officialinterest rates will be adjusted down as from September🎶 16.
Under Decision 1870/QD-NHNN dated September 12, 2019, the re-financingrate will be reduced to 6 percent per annum from the current 6.25 percent. The discount rate will be adjusted to 4 percent per annum from thecurrent 4.25 percent. The overnight electronic inter-bank interest rate and rate of loans tooffset capital shortage in clearance between the SBV and credit institutions willgo down to 7 percent per annum from the current 7.25 percent.
TheSBV said in the previous period, it has carried out synchronous measures to stabilizethe interest rates, contributing to keeping the macro economy stable andsupport a suitable growth rate.
Itnoted that entering the current period, the world economy has seen less favourabledevelopments, and the central banks of many countries, including the Fed of theUS and the European Central Bank, have cut their interest rates.
Thebank affirmed that the domestic macro economy remains stable, inflation isunder control, and the monetary and𒈔 foreign exchange markets stay stable./.
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The State Bank of Vietnam (SBV) said it will closely monitor interest rates offered by credit institutions and take measures to strictly handle violations of the law, including cutting credit growth targets.
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The headquarters of the State Bank of Vietnam in Hanoi (Photo: State Bank of Vietnam) 
