SBV decided to cut refinancing interest rates from April 3

The overnight electronic interbank interest rate will be kept at the current level of 6.0%.

The discount rate will also remain unchanged at 3.5%.

This is the second time the SBV has decided to cut important policy interest rates this year.

According to the central bank, these decisions were made in the context of production and trade difficulties and a decline in export momentum in the first quarter of this year, along with global economic uncertainties.

On March 14, it was decided to cut the rediscount interest rate from 4.5% to 3.5%, applicable from the next day.

The General Statistics Office said that Vietnam's economy slowed to 3.32% in the first quarter, the second lowest growth rate in the past 12 years.