SBV cuts regulatory interest rates by 0.5%
This is the fourth time the central bank has reduced interest rates this year.
SBV decides to cut refinancing rate from April 3
Rate to come down to 5.5%.
Banks begin to cut deposit rates
The Vietnam Bankers Association previously proposed a cap of 9.5 per cent per annum on deposits.
Commercial banks to cut interest rates to support business
Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu has said that while the central bank does not have a support package, commercial banks have committed to further reducing interest rates by a total of nearly VND20.5 trillion ($895.67 million) from now to the end of the year to support people and businesses. Four State-owned commercial banks - Vietinbank, Vietcombank, BIDV, and Agribank - have also agreed to reduce interest rates by a total of about VND1 trillion ($43.73 million).