| Vietnam to cut interest rate cap down to 9 pct: state bank governor |
| Last Updated(Beijing Time):2012-06-07 20:25 |
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The State Bank of Vietnam (SBV) will reduce deposit interest rate cap down to 9 percent from the current 11 percent starting from June 11, announced SBV Governor Nguyen Van Binh on Thursday.
Binh made the announcement during the ongoing third session of Vietnam's 13th National Assembly in capital Hanoi.
The cutting was based on analysis of the current situation when inflation in June is forecast to reach 0.2 percent and 8 percent for the whole year, so the reduction still guarantees the positive real interest rates for Vietnamese dong depositors, said Binh.
So far this year, SBV has adjusted deposit interest rate three times, from 14 percent to 13 percent on March 13, down to 12 percent and 11 percent on April 11 and May 28 respectively.
The governor once announced to reduce the deposit interest rate cap down to around 10 percent in 2012, so this would be the last adjustment this year. |
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