Premise: HANOI, March 12 Vietnam's central bank said on Monday it has cut the refinance rate by one percentage point to 14 percent from 15 percent earlier. The State Bank of Vietnam also trimmed the discount rate to 12 percent from 13 percent and lowered the cap on dong deposit rates banks could charge to 13 percent from 14 percent previously, as its governor promised last week. (Reporting by Ho Binh Minh; Editing by John Ruwitch)
Hypothesis: refinance rates will have a significant impact on consumer spending