Vietnam Central Bank to Raise Policy Rates by 100 Bps

Vietnam Central Bank to Raise Policy Rates by 100 Bps
A cyclist rides past the State Bank of Vietnam headquarters in downtown Hanoi on July 6, 2012. Hoang Dinh Nam/AFP via Getty Images
Reuters
Updated:

HANOI—Vietnam’s central bank announced on Thursday it would raise its policy rates by 100 basis points, in a rare monetary tightening move aimed at keeping inflation under 4 percent this year.

Effective Friday, the refinancing rate will be raised to 5.0 percent and the discount rate to 3.5 percent, the State Bank of Vietnam (SBV) said in a statement on its website.