The prime rate will remain unchanged at 7 percent as from September 1, the State Bank of Vietnam said in its new decision dated Aug. 26.

This is the eighth consecutive month the SBV has kept the rate unchanged in order to stabilise the domestic monetary market and stimulate the economy.

The SBV said that its new decision No 2024/QD-NHNN, to take effect on September 1, will replace No 1811/QD-NHNN, issued on July 30.

Previously, the bank decided to cut the interest rate on compulsory reserves on VND-denominated deposits at credit institutions from 3.6 percent to 1.2 percent per year as from August 1./.