Thursday, February 17, 2011

Vietnam Central Bank Raises Rate 200bps to 11%

The State Bank of Vietnam raised the refinancing rate 200 basis points to 11.00% from 9.00% previously, with effect from 17 Feb 2011. Vietnam recorded annual consumer price inflation of 12.17% in January 2011, up from the 11.75% figure in December. Last week the Bank made about a 9% devaluation of the Dong (Vietnam's currency) and narrowed the trading band, as it steps up its inflation fighting measures.


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