Interest rate lowered by 0.5 percent
State-owned commercial banks and a number of commercial joint stock banks lowered annual rates for short-term loans by 0.5 percent in late April in order to remove difficulties facing businesses.
Illustrative image (Source: VNA)They also adjusted the rates for medium and long-term loans for production and business activities to no more than 10 percent per year while offering various preferential programmes, according to the State Bank of Vietnam (SBV).
The central bank said thanks to synchronous measures, interest rates have remained stable after increasing by about 0.2-0.3 percent in the first three months of this year.
It will keep a close watch on developments of the macro-economy, the monetary market and banking activities while continuing to instruct credit institutions to take measures to balance capital sources, it said.-VNA
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