12:39:38 PM | 4/9/2008
The State Bank of Vietnam (SBV), or central bank, has decided to raise the interest rate for compulsory reserve deposits in Vietnam dong for credit institutions to 3.6 per cent per annum from current 1.2 per cent.
The SBV said the increase of the rate, effective from Sept 1, 2008, is aimed to support credit institutions in reducing lending interest rates and help businesses and borrowers to promote investment and production.
The central bank has also decided to keep the base interest rate for Vietnam dong unchanged in September at 14 per cent per annum.
The bank maintains the viewpoint that it will continue to apply the tight but flexible monetary policy to stabilize macro economy and boost production and business as well. (SBV)
Vietnamese
