Benchmark interest rate unchanged next month
VGP – The State Bank of Việt Nam (SBV) today said that it will continue to fix the benchmark interest rate at 7% in October, the nine consecutive months the rate remains unchanged.
October 01, 2009 2:43 PM GMT+7
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Refinancing and discount rates will be fixed at 7%/year and 5%/year respectively, and the overnight rate 7%/year.
SBV explained that it does not adjust the prime rates because the country’s monetary market is going smoothly and no risk found in the banking system.
It is also part of its effort to realize the Government’s socio-economic targets, the central bank said.
By Hải Minh
