SBV cuts down benchmark interest rates
The State Bank of Vietnam (SBV) issued Decision No. 693/QĐ-NHNN on April 10, 2012 on cutting down its benchmark interest rates. In particular:
- The refinancing interest rate is 13% p.a.,
- The discount interest rate is 11% p.a
- The overnight rate in the inter-bank electronic payment and the rate of loans to finance short balances in clearing transactions between SBV and commercial banks is 14% p.a.
This Decision takes effect on April 11, 2012 and replaces Decision No. 407/QĐ-NHNN dated March 12, 2012 on the refinancing and discount interest rates and the overnight rate in the inter-bank electronic payment and the rate of loans to finance short balances in clearing transactions between SBV and commercial banks.
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