Vietnam's April inflation dipped to 6.61%

It's the lowest since September 2012.

According to BBVA, April inflation edged down to 6.61% y/y (consensus: 6.95%) from 6.64% in March, the lowest level since last September.

It also added in its report that the State Bank of Vietnam cut policy rates last month as the economy expanded at a slower pace of 4.9% in Q1, dragged down by the contracted bank lending which dented business expansion and household spending. "Looking ahead, we expect another rate cut in the second half of this year and a full-year GDP growth at 5.5% in 2013," BBVA said.

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