VN cuts OMO rate by 100 bps to 13 pct

Vietnam's central bank lowered the reverse repurchase rate to 13 percent from 14 percent on Tuesday, as cuts to other policy rates announced a day earlier took effect.

The reverse repo rate is used by the State Bank of Vietnam in open market operations, a preferred monetary policy tool, and it was last cut on July 4, also by 100 basis points. The State Bank does not publicly announce changes to the reverse repo rate as it does for other major policy rates.

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