Vietnam central bank to raise policy rates by 100 basis points

HANOI (Reuters) -- Vietnam's central bank on Monday said it would raise its policy rates by 100 basis points, the second increase in a month, in a move to head off inflation risks, maintain stability and protect its banking system.

Effective Tuesday, the refinancing rate will be increased to 6.0% and the discount rate to 4.5%, the State Bank of Vietnam (SBV) said in a statement.