HANOI—Vietnam’s central bank announced on Thursday it would raise its policy rates by 100 basis points, in a rare monetary tightening move aimed at keeping inflation under 4 percent this year.
Effective Friday, the refinancing rate will be raised to 5.0 percent and the discount rate to 3.5 percent, the State Bank of Vietnam (SBV) said in a statement on its website.
The move followed this week’s rate hike by the U.S. Federal Reserve and similar steps taken by central banks around the region as prices rise across the world. Vietnam’s prime minister had earlier on Thursday urged the central bank to reconsider policy rates….