Vietnam Delivers Another Rates Cut to Spur Faltering Economy
- Decision follows latest rate cut call after cabinet meeting
- Central bank says economy facing ‘many difficulties’
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Vietnam’s central bank will implement a fourth round of monetary policy easing effective Monday to spur an economy that’s losing momentum amid slumping exports and property sector woes.
The State Bank of Vietnam said it will reduce by 50-basis-point each the refinancing rate, discount rate and overnight lending rate to inter-bank effective June 19, according to a statement on its website.