Dong interest rates to remain stable

The State Bank of Vietnam (SBV) announced October 28 that it will keep basic interest rates for dong unchanged at 7 percent per year, starting this November.

The central bank's Governor Nguyen Van Giau said other key loan interest rates would also be kept stable including refinance rates for credit institutions at 7 percent per year and discount rates at 5 percent, and the rate for overnight loans in Vietnam’s interbank market at 7 percent per year.

The central bank’s monetary policies aim to support economic growth while reining in inflation to a reasonable rate, Mr. Giau added.

By H.Yen, translated by C.Dung

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