16 March 2020 – Central Bank reduces refinancing and discount rates

Type of Intervention: Financial Support, Regulation
Sectors Involved: Central Bank
Level of Jurisdiction: National
Lead People/Agency: Bank of the State

Overview: Decision number 419/QD 2020, Bank of the State decided to reduce rate for refinancing from 6.0%/year to 5.0%/year; discount rate from 4.0%/year to 3.5%/year.
Full details here: https://www.sbv.gov.vn/webcenter/portal/vi/menu/trangchu/ttsk/ttsk_chitiet?leftWidth=20%25&showFooter=false&showHeader=false&dDocName=SBV407495&rightWidth=0%25&centerWidth=80%25&_afrLoop=1708254701079852#%40%3F_afrLoop%3D1708254701079852%26centerWidth%3D80%2525%26dDocName%3DSBV407495%26leftWidth%3D20%2525%26rightWidth%3D0%2525%26showFooter%3Dfalse%26showHeader%3Dfalse%26_adf.ctrl-state%3Deixpbbe78_503

Type of Justification: Learning from other jurisdictions
Source of Evidence or Justification: International – government
Evidence/Justification: Cites US Federal Reserve as dropping interest rates to support liquidity of the financial market