UOB Group’s Head of Research Suan Teck Kin, CFA, assessed the latest interest rate decision by the State Bank of Vietnam (SBV). Key Quotes “The State Bank of Vietnam (SBV) announced on 30 September a 50bps cut as we had expected, to its key policy rates, effective from today (Thursday, 1 October).” “The SBV lowered refinancing rate from 4.5% to a new record low of 4.0%, rediscounting rate from 3.0% to historical low of 2.5%, overdraft rate from 5.5% to 5.0%, and VND short term loan rate for priority sectors from 5.0% to 4.5%.” “With the refinancing rate now at a new record low of 4.0% and rediscounting rate at a historical low of 2.5%, the SBV is likely to be biased towards keeping the available interest rate buffer for real emergency situations and stay on a wait-and-see posture, just as the economy reopens further for business activities.” “With SBV taking the latest rate cut step as we had expected, we anticipate no further policy rate reductions going forward, unless there is evidence that the GDP growth trajectory is at risk of being derailed.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/GBP Price Analysis: Seems vulnerable to slide back to 0.9000 mark FX Street 2 years UOB Group’s Head of Research Suan Teck Kin, CFA, assessed the latest interest rate decision by the State Bank of Vietnam (SBV). Key Quotes “The State Bank of Vietnam (SBV) announced on 30 September a 50bps cut as we had expected, to its key policy rates, effective from today (Thursday, 1 October).” “The SBV lowered refinancing rate from 4.5% to a new record low of 4.0%, rediscounting rate from 3.0% to historical low of 2.5%, overdraft rate from 5.5% to 5.0%, and VND short term loan rate for priority sectors from 5.0% to 4.5%.” “With the refinancing rate now at… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
