Interest rates to fall to 7 pc: State Bank Governor
Mobilisation interest rates may fall to 7 per cent in mid-2013, said governor of the State Bank of Vietnam (SBV), Nguyen Van Binh, at a meeting with businesses in Ho Chi Minh City on July 28.
In response to businesses’ requests to reduce loan interest rates to 10 per cent per year, Binh said the current interest rates of 15 per cent remain high.
If inflation is kept at 7 per cent, mobilisation rates for Vietnamese dong will fall to 8 per cent by the end of 2012 and 7 per cent in mid-2013, he said, adding that this will help cut loan interest rates to 10 per cent.
In the current context of low inflation (2.22 per cent) over the past seven months, many international organisations have predicted that Vietnam will continue cutting interest rates until the end of 2012.
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