VCSC Daily - SBV cut rates...investors sell – DIG parent 1Q net profit down 47% – Fixed rate terms to be extended on cheap home loans
SBV cut rates...investors sell on news. The wait finally ended as the SBV cut key policy rates this morning hoping to spur economic growth. The central bank cut the discount rate from 6% to 5% and the refinancing rate from 8% to 7%. The new rates will be the lowest since beginning of 2009. With the rate cuts, the SBV want banks to reduce lending rates and push credit demand.