State Bank of Vietnam

Thursday Central Bank Derby Results in Japanese Forex Intervention, Many Interest Rate Hikes, and One Bizarre Cut

September 22, 2022

Net overnight movements in the dollar have ranged widely from a 1.8% plunge against the yen to a 1.1% rise versus the Swiss franc. In between, the dollar fell 0.3% versus the euro, Australian dollar, and sterling. After numerous rhetorical complaints by officials about the weakness of the yen, Japanese officials sold foreign currency directly […] More

Vietnam Gets a Second Central Bank Rate Reduction

April 11, 2012

The State Bank of Vietnam engineered the second 100-basis point cut of its refinancing rate.  The first ease was announced March 12, and two more such moves seem likely this year.  The benchmark rate had been slashed from 15% to 7% between October 2008 and April 2009 but in seven subsequent increases returned to 15% […] More

Vietnamese Central Bank Rate Cut

March 12, 2012

The State Bank of Vietnam reduced its refinancing rate by 100 basis points to 14% from 15%, which had been the level for the past five months.  This was the first decrease since a 100-bp reduction in April 2009 that culminated an easing cycle from 15% prior to mid-October 2008.  Today’s easing had been strongly […] More