Interest Rate in Vietnam

Vietnam Interest Rate | Economic News & Forecasts

Vietnam - Interest Rate

Bank of Vietnam cuts deposit rate cap to support lending growth

On 28 October, the State Bank of Vietnam (SBV) decided to reduce its dong deposit rate cap for terms of one to six months from 6.0% to 5.5%. Meanwhile, the SBV left its discount, refinance and repurchase rates unchanged at 4.5%, 6.5% and 9.0%, respectively.

The Bank decided to cut the deposit rate cap in an effort to support economic growth and revive lending. Lower interest rates could help the country meet the government’s 12%-14.0% credit growth target. The Bank stated that it would closely monitor domestic and global economic developments in order to ensure the stability of the exchange rate and the money market.

FocusEconomics Consensus Forecast panelists expect a refinancing rate of 6.31% in 2014. Panelists see the Bank increasing rates next year to 6.86%.

Vietnam - Interest Rate Data

2013  2014  2015  2016  2017  
Policy Interest Rate (%)7.00  6.50  6.50  6.50  6.25  

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Vietnam Interest Rate Chart

Vietnam Interest Rate
Note: Refinancing rate in %.
Source: State Bank of Vietnam.

Vietnam Facts

Bond Yield4.40-0.13 %Jul 31
Exchange Rate23,2330.01 %Jul 31
Stock Market9920.15 %Jul 31

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