{"id":28168,"date":"2012-03-12T12:37:00","date_gmt":"2012-03-12T16:37:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2012\/03\/12\/state-bank-of-vietnam-cut-refinancing-rate-100bps-to-14\/"},"modified":"2012-03-12T12:37:00","modified_gmt":"2012-03-12T16:37:00","slug":"state-bank-of-vietnam-cut-refinancing-rate-100bps-to-14","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/03\/12\/state-bank-of-vietnam-cut-refinancing-rate-100bps-to-14\/","title":{"rendered":"State Bank of Vietnam Cut Refinancing Rate 100bps to 14%"},"content":{"rendered":"<div align=\"right\"><script type=\"text\/javascript\">\ntweetmeme_style = 'compact';\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/tweetmeme.com\/i\/scripts\/button.js\"><\/script><\/div>\n<p><span>The&nbsp;<a href=\"http:\/\/www.sbv.gov.vn\/wps\/portal\/vn\" target=\"_blank\">State Bank of Vietnam<\/a>&nbsp;(SBV)<\/span><span><span><span>&nbsp;cut the refinancing rate 100 basis points to 14.00% from 15.00% previously; also cutting the inter-bank rate to 15.00% and discount rate to 12.00% by the same margin. &nbsp;The SBV said: &#8220;In response to the guidelines of the Government&#8230; on key solutions to realize the socio-economic development plan and state budgeting for 2012; on the basis of the downward trend of inflation and the capital supply-demand of the market, the Governor of the State Bank of Vietnam has issued Decision&#8230; to reduce key interest rates and maximum VND deposit interest rates for entities and individuals at credit institutions and foreign bank branches&#8221;<\/span><\/span><\/span><br \/><a name='more'><\/a><br \/><span><span>Last year the State Bank of Vietnam implemented a number of measures to counter inflation including <a href=\"http:\/\/www.centralbanknews.info\/2011\/10\/state-bank-of-vietnam-raises-rate.html\">rate hikes<\/a>, a cap on bank&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/09\/state-bank-of-vietnam-caps-bank-deposit.html\" target=\"_blank\">deposit rates<\/a>, an increase to the&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/06\/state-bank-of-vietnam-implements-series.html\" target=\"_blank\">required reserve<\/a>&nbsp;ratios on foreign currency by 100 basis points in June last year and lifted dollar reserve ratios&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/08\/vietnam-central-bank-lifts-dollar.html\" target=\"_blank\">100 basis points<\/a>&nbsp;in August. &nbsp;The&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/05\/vietnam-central-bank-hikes-reverse-repo.html\" target=\"_blank\">bank<\/a>&nbsp;also increased&nbsp;its reverse repurchase interest rate by 100 basis points to 15.00% in May last year, and subsequently reduced the&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/07\/state-bank-of-vietnam-reduces-omo-rate.html\" target=\"_blank\">OMO rate<\/a><\/span><span>&nbsp;by 100 basis points to 14.00%. &nbsp;<\/span><\/span><br \/><span><span><br \/>Vietnam reported annual inflation of 18.1% in December, 22.42% in September, 23.02% in August, 22.16% in July, 20.82% in June, 19.78% in May, and 17.51% in April last year, according to the General Statistics Office. &nbsp;Vietnam&#8217;s annual GDP growth rate averaged about 6 percent through 2011. The Vietnamese Dong (VND) is currently trading around 20,823 against the US dollar.<\/span><\/span><\/p>\n<div><span><br \/><a href=\"http:\/\/www.centralbanknews.info\/\" target=\"_blank\">www.CentralBankNews.info<\/a><\/span><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-2920024290084212805?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;State Bank of Vietnam&nbsp;(SBV)&nbsp;cut the refinancing rate 100 basis points to 14.00% from 15.00% previously; also cutting the inter-bank rate to 15.00% and discount rate to 12.00% by the same margin. &nbsp;The SBV said: &#8220;In response to the guidelines of the Government&#8230; on key solutions to realize the socio-economic development plan and state budgeting for &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/03\/12\/state-bank-of-vietnam-cut-refinancing-rate-100bps-to-14\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;State Bank of Vietnam Cut Refinancing Rate 100bps to 14%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-28168","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=28168"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28168\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=28168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=28168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=28168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}