Economics
Vietnam Cuts Key Interest Rates to Aid Economic Recovery
- State Bank cuts refinancing, discount rates effective Oct. 1
- Move comes after economic growth accelerated in third quarter
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Vietnam’s central bank cut policy interest rates for the third time this year, seeking to bolster a recovery gradually taking hold in the economy.
The State Bank of Vietnam cut its refinancing rate to 4.0% from 4.5%, effective Thursday, the regulator announced on its website Wednesday. It also lowered the discount rate to 2.5% from 3%, and cut the repurchase rate -- known as the open-market operations rate -- to 2.5% from 3%.