Central bank cuts interest rate to aid Vietnamese economy

The refinancing interest rate will be cut to 4 per cent per annum from 4.5 per cent from Oct 1. — VNA/VNS

HANOI (Vietnam News/ANN): The State Bank of Vietnam (SBV) will cut the benchmark interest rate from Thursday (Oct 1) to support the national economy amid difficulties posed by the Covid-19 pandemic.

The refinancing interest rate will be cut to 4 per cent per annum from 4.5 per cent, while the rediscount interest rate will go down to 2.5 per cent from 3 per cent.