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Vietnam Cuts Key Interest Rates to Aid Economic Recovery

  • State Bank cuts refinancing, discount rates effective Oct. 1
  • Move comes after economic growth accelerated in third quarter
relates to Vietnam Cuts Key Interest Rates to Aid Economic Recovery
Photographer: PAUL HAIGH
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Vietnam’s central bank cut policy interest rates for the third time this year, seeking to bolster a recovery gradually taking hold in the economy.

The State Bank of Vietnam cut its refinancing rate to 4.0% from 4.5%, effective Thursday, the regulator announced on its website Wednesday. It also lowered the discount rate to 2.5% from 3%, and cut the repurchase rate -- known as the open-market operations rate -- to 2.5% from 3%.