Retail in Asia

In Markets

Vietnam cuts key rate for first time since 2009

Vietnam’s central bank said on Monday it was slashing a key policy interest rate for the first time in nearly three years after double-digit inflation eased in the communist country. The State Bank of Vietnam will cut the refinancing rate – which it charges on its loans to commercial banks – to 14 percent from 15 percent with effect from Tuesday, it said in a statement on its website.