12:24:37 PM | 7/8/2008
The State Bank of Vietnam, or central bank, will continue to keep the base interest rate for Vietnam dong at 14 per cent per annum in August, unchanged from June 11.
The re-financing interest rate for credit institutions is maintained at 15 per cent per annum and the discount rate kept at 13 per cent.
The central bank has raised the base interest rate three times so far this year in an effort to curtail the rising inflation.
However, the rate is expected to be lowered by the end of this year amidst positive signals of inflation.
As reported by the General Statistics Office, Vietnam’s consumer price index (CPI) rose 1.13 per cent in July from June, the slowest rise in a single month so far this year.
The state-owner lender BIDV has also decided to cut lending interest rates, the second reduction within a month. Its highest interest rate for Vietnam dong is reduced to 20.4 per cent. (Labor, Youth)
Vietnamese
