Dung to Announce Steps Against Inflation After Rate Rises

Vietnam’s Prime Minister Nguyen Tan Dung is preparing to order tighter policies to tame inflation after the central bank raised the nation’s reverse repurchase rate, the second increase in borrowing costs in less than a week.

The State Bank of Vietnam raised the rate it charges commercial banks in daily open-market operations to 12 percent from 11 percent for the seven-day term yesterday, Deputy Governor Nguyen Toan Thang said by telephone in Hanoi. Dung will hold a meeting with ministers and the central bank tomorrow to announce a resolution detailing measures to curb consumer-price growth and stabilize the economy, said Vu An Ninh, a chief administrator at the prime minister’s office.