The State Bank of Vietnam (SBV) announced the adjustment of several key interest rates effective from March 15, 2023

The SBV has issued series of Decisions dated 14/03/2023 on adjusting some key interest rates applicable from March 15, 2023. Accordingly:  

• SBV issued Decision No.313/QĐ-NHNN dated 14/03/2023 in which refinancing rate will remain at 6.0% p.a; the discount rate will decline from 4.5% p.a to 3.5% p.a; the overnight interest rate in the inter-bank electronic payment and the rate of loans to finance short balances in clearing transactions between SBV and commercial banks will also decline from 7.0% p.a to 6.0% p.a;
• SBV issued Decision No.314/QĐ-NHNN dated 14/03/2023 on the cap for VND short-term lending rate charged by the credit institutions to borrowers to meet the capital demand in several economic sectors in line with Circular No. 39/2016/TT-NHNN dated December 30, 2016. Accordingly, the maximum VND short-term lending rate will decrease from 5.5% p.a to 5.0% p.a; the maximum VND short-term lending rate at the People’s Credit Funds and the Micro Finance Institutions will lower from 6.5% p.a to 6.0% p.a.

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