Vietnam to hold benchmark rate at 9% for December

The State Bank of Vietnam, the country’s central bank, said Monday that it will keep the base interest rate unchanged at 9% per annum in December in a move to stabilize the monetary market.

The decision came in after the General Statistics Office’s statistics showed that Vietnam’s CPI in November is estimated to have risen by 1.86% from October, the highest increase level from February, extending the CPI increase in the first 11 months of the year to 8.96% against the whole year target of 8%.

The SBV did not mention any move for refinancing rate on the interbank market and the discount rate.

Vietnam government recently said it will take tough measures to curb inflation at under 10% this year.- StoxPlus

Tags: Vietnam banking industry, Vietnam finance, Vietnam financial, Vietnam interest rates

Posted by VBN on Sep 11 2011. Filed under Banking-Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry