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Vietnam interbank rates seen easing as credit growth cools

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Vietnam interbank rates seen easing as credit growth cools



Vietnam’s sharp rise in interbank rates in the fourth quarter of 2025, extending into early 2026, is expected to ease in the coming months as credit growth and economic activity cool. Interbank rates have diverged from the steady 4.50 per cent refinancing rate set by the State Bank of Vietnam (SBV), reflecting tighter liquidity conditions.

Economic momentum remained strong at the end of 2025, with real GDP expanding 8.4 per cent year on year (YoY) in the fourth quarter, the fastest pace in several years. Growth was driven by robust export-oriented industrial production. Credit growth surged to 19.4 per cent YoY by December, well above deposit growth of 14 per cent, SBV said in a release.

Vietnam’s interbank rates, which rose sharply in late 2025, are expected to ease in 2026 as credit growth and economic momentum cool.
GDP expanded 8.4 per cent year on year in Q4, while credit growth of 19.4 per cent outpaced deposits.
Despite a strong 2025, US tariff risks remain.
The SBV is likely to keep rates steady while targeting slower credit growth.

While Vietnam enters 2026 on a positive footing after achieving an estimated 8 per cent growth in 2025, external risks remain significant for the export-driven economy. Goods exports to the US, which account for around 30 per cent of the total, face the lagged impact of 20 per cent reciprocal tariffs, uncertainty over transshipment duties, and the risk of additional sectoral measures, including possible semiconductor levies.

Monetary authorities have signalled a cautious policy stance for 2026 despite an official GDP growth target of 10 per cent, which analysts view as difficult to achieve. Growth is expected to moderate to around 6.5 per cent, while the SBV has set a lower credit growth target of 15 per cent to limit overheating and resource misallocation risks.

The refinancing rate is expected to remain unchanged at 4.50 per cent, though the possibility of an unexpected rate hike cannot be ruled out if liquidity strains persist.

Fibre2Fashion News Desk (HU)



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Top Vietnamese, Chinese leaders hold talks on advancing cooperation

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Top Vietnamese, Chinese leaders hold talks on advancing cooperation



China and Vietnam are accelerating efforts to navigate bilateral trade towards a more balanced and sustainable course.

China will step up building a higher-level China-Vietnam community with a shared future that carries strategic significance, Chinese President Xi Jinping said while holding talks with visiting Vietnamese President To Lam.

China and Vietnam are accelerating efforts to navigate bilateral trade towards a more balanced and sustainable course.
President Xi Jinping recently held talks with visiting Vietnamese President To Lam.
During the visit, Vietnamese Minister of Industry and Trade Le Manh Hung called for a restructuring of production, trade and supply chains alongside stronger investment cooperation.

Xi said both countries should work together in their modernisation drive, accelerate the alignment of development strategies and prioritise infrastructure connectivity.

While meeting Chinese Minister of Commerce Wang Wentao during the state visit, Vietnamese Minister of Industry and Trade Le Manh Hung called for a restructuring of production, trade and supply chains alongside stronger investment cooperation.

Wang said both sides should focus on implementing the high-level common perceptions, including raising bilateral trade turnover to $500 billion in future.

Hung urged China to expand imports of Vietnamese goods, broaden the list of products eligible for tariff preferences and further open its market. He also called for the mutual recognition of quarantine results for agro-forestry-fishery products, facilitation of Vietnamese exports via cross-border e-commerce, and expansion of Vietnam’s trade promotion offices across Chinese localities, according to a Vietnamese news agency.

China will continue to support Vietnam in setting up additional trade promotion offices, following those already established in Chongqing, Hangzhou and Haikou, Wang responded.

China also expressed readiness to support Vietnam’s stronger exports through cross-border e-commerce, encouraging greater visibility of the Vietnam National Pavilion on Chinese e-commerce platforms beyond JD.com to better promote Vietnamese products to Chinese consumers.

China has consistently been Vietnam’s largest trading partner and second-largest export market, while Vietnam continues to be China’s biggest trading partner in the Association of Southeast Asian Nations (ASEAN).

Fibre2Fashion News Desk (DS)



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Hong Kong apparel imports stabilise after sharp dip last year

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Hong Kong apparel imports stabilise after sharp dip last year












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Burberry unveils High Summer 2026 lido-inspired campaign

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Burberry unveils High Summer 2026 lido-inspired campaign



Burberry presents the High Summer 2026 campaign: a film and portfolio of images capturing life at the lido, celebrating Britain’s culture of open-air pools that come alive with families, friends and neighbours every summer.

British actors Simone Ashley and Tom Blyth star alongside models Alva Claire, Babacar N’Doye and Sacha Quenby and a cast of synchronised swimmers and divers.

Burberry’s High Summer 2026 campaign captures Britain’s nostalgic lido culture through a sunlit film featuring Simone Ashley and Tom Blyth.
Blending heritage check with pastel tones, the collection spans swimwear, relaxed tailoring, raffia bags and lightweight layers, evoking effortless, poolside summer style.
Directed by Francis Plummer, the campaign reflects a warm, communal British summer mood.

The campaign film is directed by Francis Plummer and shot by photographer Ryan McGinley. The cameras move from loungers to diving boards, catching mid-air dives and friends stretched out in the hazy afternoon light. Before long, the best spots by the pool are claimed with a Burberry towel. Summer has begun. The film is underscored by the TONE remix of ‘Beating’ by Tirzah.

‘A lido holds a particular kind of nostalgia for the British. The moment the sun comes out, we make the most of the weather. We wanted to bring to life a warm summer’s day spent in and around the water’s edge with friends.’ said Daniel Lee Chief Creative Officer, Burberry.

Key styles

The High Summer 2026 collection features the Burberry Check in heritage-inspired sand beige and pastel shades of aubergine purple and cornflower blue.

The iconic Burberry Check bikini is the beach essential, alongside matching swimsuits and men’s swim shorts trimmed with check.

Poolside separates include tops, skirts and shirts cut from cotton voile, plus cover-up dresses woven with a tonal Burberry Check and deckchair-inspired stripes. Ruffled trims and ties at the neckline capture the floaty, effortless feel of the collection. Festival

tank tops in ribbed cotton jersey are trimmed with check straps, while looks are wrapped in lightweight wool silk scarves.

For men, collared shirts and shorts are tailored to relaxed lines and finished with fresh interpretations of the Burberry Check, from textural weaves to intricate embroidered designs. The co-ord set is crafted from lightweight cotton poplin printed with a playful seahorse pattern in honeysuckle pink.

The classic cotton piqué polo shirt comes in a spectrum of vivid and neutral colours. Burberry Check is subtly placed at the placket and trims the collar of T-shirts in soft cotton jersey.

Lightweight hooded jackets are ideal for cooler evenings and unexpected showers, the new-season designs woven in aubergine purple and cornflower blue check.

In shoes, the new Knight Runner sneakers offer a streamlined, low-profile shape for summer. Sandals are elevated in the form of the whipstitched leather Baez and check-trimmed suede Urchin styles, while Burberry Check slides and Pavilion sandals are made for the beach.

Lightweight Margate bags are handcrafted in Madagascar from locally sourced raffia palm leaves, dyed in signature sand beige Burberry Check. Accessories include crocheted bucket hats and wraparound sunglasses, designed to shield from the sun.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (JP)



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