SBV cuts down benchmark interest rates

The State Bank of Vietnam (SBV) issued Decision No. 1196/QĐ-NHNN on June 8, 2012 on cutting down its benchmark interest rates. In particular:

- The refinancing interest rate is 11% p.a.,

- The discount interest rate is 9% 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 12% p.a.

This Decision takes effect on June 11, 2012 and replaces Decision No. 1081/QĐ-NHNNdated May 25, 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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