VietNam Raises Key Rate to 14% to Rein in Inflation

[tungsteng]

Viet Nam increased the benchmark interest rate for a third time this year to rein in the fastest inflation since at least 1992 and shore up confidence in the currency and stock markets.

The State Bank of Viet Nam raised the base rate to 14% from 12% to stabilize the economy, according to a statement on the central bank's Web site. The Southeast Asian nation also increased the refinancing rate to 15% from 13% and the discount rate to 13% from 11%. The new rates are effective from tomorrow...
Full story: http://www.vnstocknews.com/2008/06/viet-nam-raises-key-rate-to-14-to-rein.html

[tungsteng]

Bonds Rise; Central Bank Raises Rates to Slow Inflation

Bonds rose for a second day on speculation inflation will slow as the central bank increased interest rates to 14% today.

Yields are near the highest since at least July 2006 after the Southeast Asian country posted inflation at the fastest in 16 years. The Vietnamese central bank today announced to increase the benchmark interest rate to 14%, from 12%, according to a statement posted on its Web site.

``This is a good news for the market,'' said Dam Bich Thuy, chief executive officer of Australia & New Zealand Banking Group Ltd.'s Vietnam unit in Hanoi. ``The move showed that the government is taking action to address investors' concerns.''...
Full story: http://www.vnstocknews.com/2008/06/bonds-rise-central-bank-raises-rates-to.html

[tungsteng]

Viet Nam Raises Interest Rate to Highest in Asia, Lets Dong Fall

Viet Nam increased the benchmark interest rate to the highest in Asia to cool the quickest inflation since at least 1992, and will allow the dong to weaken...
http://www.vnbusinessnews.com/2008/06/viet-nam-raises-interest-rate-to.html