The State Bank of Vietnam (SBV) on November 5 decided to raise the prime rate to 9 percent per annum after keeping it at 8 percent for almost a year.
Under the SBV’s decision, the refinancing, re-discount and overnight lending rates will be also lifted to 9 percent, 7 percent and 9 percent a year, respectively, as of Nov. 5.
The central bank reported that by the end of October, total deposits at credit institutions had risen by 22.81 percent and lendings up by 22.5 percent as compared with the figures at the end of 2009./.
