In conclusions from the Vietnamese Government’s February 2026 regular meeting, the Prime Minister assigned the State Bank of Vietnam (SBV) to publicly disclose the full-year 2026 credit growth limit and to run monetary policy in close coordination with the Ministry of Finance’s fiscal stance. The directions call for flexible and timely adjustments to the credit growth limit as conditions evolve, and for interest rate, exchange rate and credit management to be conducted smoothly without abrupt shifts, while avoiding a policy mix that sacrifices inflation control for growth or vice versa. SBV was also instructed to strengthen inspection, supervision and credit steering toward production and priority sectors and other growth drivers, and to control credit to sectors deemed higher risk. Separately, SBV was asked to study extending consumer loan tenors, potentially doubling the term from one year to two years and allowing a grace period. Next steps referenced in the meeting conclusions are the publication of the 2026 credit growth limit and ongoing in-year recalibration, with the consumer lending change framed as a research task.
State Bank of Vietnam 2026-03-04
State Bank of Vietnam tasked to publish 2026 credit growth limits and study doubling consumer loan tenors
The State Bank of Vietnam (SBV) must disclose the 2026 credit growth limit and align monetary policy with the Ministry of Finance's fiscal stance. SBV is tasked with managing interest rates, exchange rates, and credit smoothly, avoiding policy shifts that compromise inflation control or growth. Additionally, SBV will enhance supervision of credit towards priority sectors and study extending consumer loan tenors.