Vietnam is unlikely to cut rates further

Source: Bloomberg
© Scanpix/Reuters
The Vietnamese central bank's Deputy Governor said that it is unlikely that the rates will be cut again this year, despite slowing economic activity in the country. He cited possibility of increased inflation as his motivation not to act; however, Vietnam affirms its plan to cut interest rates by 2% each year. After the last cut on May 13, the refinancing and discount rates are 7% and 5%, respectively.
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