SBV reduces interest rates

Today, the SBV Governor promulgated Decision No. 837/QD-NHNN on reducing the refinancing rate to 7.0% p.a from 8.0% p.a, the rediscount rate to 5.0% p.a from 6.0% p.a, 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 to 7.0% p.a from 8.0% p.a.

The decision takes effect from April 10th, 2009 and replaces Decision No.173/QD-NHNN of the SBV Governor dated January 23th, 2009.

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