Vietnam c.bank cuts repo rate to 11 percent
Vietnam's central bank reduced the reserve repurchase rate used in open market operations (OMO) to 11 percent from 12 percent on Monday, following cuts announced last week in other key policy rates to stimulate the economy.
The new rate, part of the OMO transaction data provided by the State Bank of Vietnam, is still far above the interbank dong lending rates, which range between 1.5 percent and 4.5 percent, Reuters data show.
reuters
> Bad debt plagues financial sector (26/05/2012)
> Vietnam central bank dispels coin recall rumor (26/05/2012)
> BIDV to launch e-banking services (26/05/2012)
> SBV slashes ceiling interest rates by 1% (26/05/2012)
> Hanoi branch of Industrial and Commercial Bank of China Limited allowed to do factoring (25/05/2012)
> VietinBank opens branch in Berlin (25/05/2012)
> Bank inks deal with IFC, BNP Paribas (25/05/2012)
> AIA Vietnam expands footprint in Vietnam (24/05/2012)
> VN's growth rate to fall to 5.7% this year (24/05/2012)
> Vietnam firms still have to borrow bank loans at 20pct p.a. (23/05/2012)