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But experts have said the lower policy rates have not had a major impact on the economy since businesses have trouble accessing bank credit not due to high interest rates but because they could not prove their repayment capability amid the uncertainties caused by the pandemic. … [Read more...] about Central bank cuts rates for 3rd time

Accordingly, the interest rate of compulsory reserves in VND at banks will be 0.5 percent per annum, and the interest rate on dong deposits from banks that exceed the minimum 3 percent requirement will be zero percent per annum, down 0.5 percent compared to the rates stipulated in a decision on March 16 this year. Meanwhile, the interest rate for deposits in VND by the Vietnam Development Bank (VDB) and Vietnam Bank for Social Policies (VBSP), both state-owned banks; People's Credit Funds and microfinance institutions will be reduced by 0.2 percent to 0.8 percent per annum. The interest rate for deposits of the State Treasury, and the Deposit Insurance of Vietnam with the SBV is revised down to 0.8 percent per annum, down 0.2 percent. The SBV said the adjustment was made based on macro-economic developments and the level of interest rates in the market. … [Read more...] about State Bank of Vietnam cuts some interest rates