Under a decision announced late March 17, from March 18 on, VND saving interest rate of 1 to 6-month term shall be reduced to 6% pa from 7% pa. The maximum USD deposit interest shall be reduced to 1% pa from 1.25% pa. Various other operation interest rates shall be adjusted:- Capital refunding down to 6.5% pa from 7% pa;- Discount interest rate down to 4.5% pa from 5%;- Inter-bank e-paying overnight loans interest rate down to 7.5% pa from 8% pa- Interest rate of capital loan facilities supplementing capital deficiency of State Bank of Vietnam down to 7.5% from 8% pa;- OMO interest rate down, as affirmed by State Bank of Vietnam (SBV), to 5% pa from 5.5% pa, and so on.Talking to the press, Mrs. Nguyen Thi Hong, Director of Bureau of Monetary Policies under State Bank of Vietnam informed that the simultaneous reduction of banking interest rates was to follow government’s resolution after the regular meeting in February when the ceiling rates were reduced for the first time in 2014. In 2013, SBV reduced deposit interest rate twice down to 7% pa.By Binh Duong Newspaper – Translated by Vi Bao