The State Bank of Vietnam (SBV) on March 8 raised refinancing and discount rates to 12 percent per year.

The SBV also lifted the overnight rate in inter-bank electronic payments and the rate of loans to finance short balances in clearing transactions between SBV and commercial banks to 12 percent, from 11 percent per year.

It was the first time the discount rate had been adjusted this year, up 5 percent compared with last year./.