Vietnam rates should not go higher: senior official

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Interest rates in Vietnam are already high and should not be raised, a senior government official told reporters on Friday.

The government would also carefully consider the dong exchange rate after Tet, or the lunar new year festival, next week, said Nguyen Xuan Phuc, a member of the Communist Party's elite Politburo and head of the government office.

"I think interest rates should not be higher now because they are already high," he said. "After Tet the government will examine the foreign exchange rate more carefully because the rate relates to many other issues."

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