VGP – The State Bank of Viet Nam has issued Decision No. 1870/QD-NHNN on reduction of official interests rates, applicable since September 16. 

The facade of the State Bank of Viet Nam

Specifically, the annual refinancing rate will be decreased by 0.25% percentage points to 6% from currently 6.25%.

The annual rediscount rate will be lowered to 4% from the current 4.25%, according to the decision.

The central bank also decided to slash overnight electronic interbank rate and rate of loans to offset capital shortage in clearance between the bank and credit institutions from the current 7.25% to 7%.

The latest decision was made in line with foreign and domestic economic situation in order to contribute to ensuring macro-economic stability and controlling inflation as mandated by the Government./.

The current interest rates were introduced in July 2017 under the Decision No.1424/QD-NHNN./.