Vietnam rates at "high' level, central bank says

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Vietnam's central bank will try to bring down rates at the prime minister's request as interest costs are at a level affecting corporate profits and inflation is under control, a central banker said Sunday.

The bank may supply more money to the banking system by providing loans at longer terms, while carrying out a "flexible" monetary policy, State Bank of Vietnam Deputy Governor Nguyen Van Binh said on the sidelines of a World Economic Forum conference in Ho Chi Minh City.

Vietnam's inflation rate eased for a second month in May, with the pace of price growth cooling to 9.05 per cent from 9.23 per cent in April. In May, the Vietnamese government raised its inflation target for 2010 to 8 per cent from 7 per cent.

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