March 12, 2020 / 11:49 AM / a month ago

Vietnam central bank may cut rates to support virus-hit businesses

HANOI, March 12 (Reuters) - The State Bank of Vietnam is considering cutting policy rates to support domestic economic activities hit by the coronavirus pandemic, the government said in a statement on Thursday.

The move would “help credit institutions to have cheaper funds to support firms hit by COVID-19,” the central bank’s deputy governor Dao Minh Tu said in the statement. (Reporting by Khanh Vu; editing by John Stonestreet)

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