SBV cuts down benchmark interest rates

The Governor of the State Bank of Vietnam (SBV) issued Decision No. 1289/QD-NHNN on June 29 on cutting down its benchmark interest rates. In particular:

- The refinancing interest rate is 10% p.a.,

- The discount interest rate is 8% 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 11% p.a.

This Decision took effect on July 1, 2012 and replaces Decision No. 1196/QD-NHNN dated June 8, 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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