On 14 March 2023, the State Bank of Vietnam (SBV) became the first central bank in Asia to cut policy interest rate this year, reversing its tightening monetary policy stance taken in 2022. This move was after the aggressive rate hikes by the US Federal Reserve (FED) and central banks globally to combat inflation and currency pressures.
Macroeconomics: Policy rate cut to support economic growth
Banks and borrowers will benefit from lower funding costs
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