Vietnam Economy PM hails central bank’s move to cut interest rates The Saigon Times Daily Monday, Dec 2, 2019,19:45 (GMT+7) PM hails central bank’s move to cut interest ratesThe Saigon Times Daily A bus travels past the headquarters of the State Bank of Vietnam in Hanoi. Prime Minister Nguyen Xuan Phuc has lauded the State Bank of Vietnam’s latest move to lower the interest rate – PHOTO: VNECONOMY HCMC – Prime Minister Nguyen Xuan Phuc lauded the State Bank of Vietnam’s latest moves to lower interest rates for deposits in Vietnamese dong and order local lenders to offer lower interest rates for key business sectors. At a Cabinet meeting on the country’s socioeconomic performance for November, held in Hanoi today, December 2, the leader said the moves would help the business community and the public to reduce their business costs, reported the Government news website. In a November 18 statement, the central bank announced that the limit on interest rates was being lowered to 5% from 5.5% for dong deposits with maturities of one month to less than six months. The bank also ordered commercial banks to lower the maximum dong lending rate for short-term loans to 6% from 6.5%, which was aimed at… Read full this story
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