Benchmark rate to be kept unchanged

Illustration photo

The Decision, replacing the July 30 document, will come into effect since September 1.

This is the eight consecutive month when SBV maintains the prime interest rate at 7% in order to stabilize monetary market and stimulate the national economy.

Also on the same day, the central bank publicized some interest rates to be applied from September 1 on. Accordingly, refinanced and overnight rates will be fixed at 7% a year, while discount rate 5% a year.

Earlier, SBV had decided to lower the interest rate of the compulsory reserve in Vietnamese currency down to 1.2% from 3.6% since August 1.

By Hải Minh