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Vietnam c.bank cuts repo rate to 11 percent

May 28th at 14:05
28-05-2012 14:05:40+07:00

Vietnam c.bank cuts repo rate to 11 percent

Vietnam's central bank reduced the reserve repurchase rate used in open market operations (OMO) to 11 percent from 12 percent on Monday, following cuts announced last week in other key policy rates to stimulate the economy.

The new rate, part of the OMO transaction data provided by the State Bank of Vietnam, is still far above the interbank dong lending rates, which range between 1.5 percent and 4.5 percent, Reuters data show.

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