Economics
Vietnam Cuts Interest Rates as Global Easing Spreads
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Vietnam said it would cut interest rates to boost economic growth, joining nations from Sri Lanka to Australia in easing monetary policy.
The State Bank of Vietnam will cut the refinancing rate to 7 percent from 8 percent effective May 13, Deputy Governor Nguyen Dong Tien said at a briefing in Hanoi today. The discount rate will be reduced to 5 percent from 6 percent, he said.