Hot Bonds as Bank Interest Rates Struggle to Cool Down

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• State Bank of Vietnam urges banks to cut savings rates across all channels

  On Oct. 21, the State Bank of Vietnam told commercial banks to make real deposit rate cuts across all sales channels, following the Governor's instruction at a meeting on Oct. 19. Banks must cut average deposit rates for new transactions with terms of 6 months or longer by at least 0.5 percentage points per year in the final months of 2026, compared with their average rates from Oct. 11 to 20. The regulator said it will monitor the figures and may take strict action against non-compliant banks, including lowering or assigning lower credit growth targets. About 20 banks have updated their deposit rate tables, mostly cutting 0.5 points for terms from 6 months at both counters and online. Meanwhile, rates on staff-linked promotional programs at branches have not yet shown signs of easing.

  VnExpress·21/10, 09:11▲ VNINDEXState Bank of Vietnaminterest ratessavings accounts
• State Bank of Vietnam issues new directive on interest rates

  The State Bank of Vietnam (SBV) has instructed commercial banks to substantially cut deposit and lending rates across their entire system and all sales channels, following the Governor's directive at an October 19, 2026 meeting. Specifically, banks must reduce average deposit rates on new transactions with tenors of 6 months or longer by at least 0.5% per year in the final months of 2026, compared with their rates in the reporting period of October 11 to October 20, 2026. The SBV will monitor average rates on new transactions through its statistical reporting system. Banks that fail to comply could face strict measures, including a possible reduction or lower assignment of credit growth targets.

  CafeF·21/10, 08:01• VNINDEXState Bank of Vietnaminterest ratesbanks
• MSB Rolls Out Coordinated Interest Rate Measures, Offering Preferential Loans From 7.5% per Year

  MSB has launched a preferential credit package of up to VND 10,000 billion, with VND loan rates starting from 7.5% per year, at least 2% per year below regular rates. The move follows the State Bank of Vietnam's push for lower lending rates in production, business and priority sectors, and lower deposit rates for terms of six months or longer. MSB has also cut deposit rates by 0.5% per year for those terms. It further upgraded its M-Flex 2.0 financing solution, offering limits of up to VND 25 billion, automated approval within 4 hours and disbursement within 2 hours, subject to conditions.

  CafeF·21/10, 06:30▲ MSBMSBinterest ratescredit
• Lending rates cut by up to 3 %, to lower borrowing costs for businesses and priority sectors

  Nearly 20 Vietnamese banks have cut deposit rates, generally by 0.5 percentage points per year, while 14 lenders have announced lending rate cuts of mostly 1.5–2 percentage points, and up to 3 points in some cases. The moves follow requests from the Government and the State Bank of Vietnam to lower borrowing costs for businesses and priority sectors. VPBank cut lending rates by 1.5 points for individuals in six key sectors and allocated VNĐ10 trillion (US$380 million) to SME working capital loans, while Vietcombank offers cuts of up to 3 points on certain short-term loans. At an October 19 meeting with 46 commercial banks, SBV Governor Phạm Đức Ấn urged lower rates while safeguarding financial stability, noting that the loan-deposit gap had narrowed from nearly VNĐ2 quadrillion to under VNĐ1.5 quadrillion.

  vietnamnews.vn·21/10, 05:15▲ VNINDEXinterest ratesState Bank of Vietnambanks
• VPBank cuts lending and deposit rates across the board

  VPBank will cut its lending rate by 1.5% for customers operating in six key sectors, effective 26 October 2026, and reduce rates by up to 1.5% on SME working-capital loans. It is also lowering online deposit rates by 0.5% for individuals on certain terms, including 15- and 18-month savings, from 20 October 2026. The moves follow government and State Bank of Vietnam directives to lower interest rates. Eligible borrowers can also get up to 12 months' principal grace, and the bank has set a 10,000 billion VND quota for the 1.5% cut on corporate working-capital loans in priority sectors.

  CafeF·21/10, 02:00• VPBVPBinterest ratesbanks
• Bridging the gap between deposit mobilization and credit growth

  As of October 14, 2026, outstanding credit across the economy exceeded VND 20.72 million billion, up 11.44% from end-2025, while deposit mobilization grew 11.22% as of the October 19 meeting, lagging credit growth. The article says demand for capital is rising faster than banks' ability to raise funds, even though household deposits rose 10.63% to about VND 11.43 million billion by end-August. It warns that simply raising deposit rates could push up funding costs and make lending rates harder to cut. At the October 19 meeting, the State Bank of Vietnam asked banks to cut deposit rates by at least 0.5 percentage points for terms of 6 months or more and lending rates by 1.5-2 percentage points for production, business and priority sectors. Banks including BIDV, Agribank and Vietcombank have announced support programs, but the article argues that effectiveness should be judged by how many firms actually access capital and the real reduction in borrowing costs.

  CafeF·20/10, 23:48• VNINDEXcreditinterest ratesbanks

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• OpenAI to bring AI models to Google's cloud, in further expansion beyond Microsoft

  OpenAI will make its models available to developers through Google Cloud, putting them on all three of the top cloud infrastructure providers. The move follows OpenAI saying less than six months ago that Microsoft would no longer hold an exclusive license to its intellectual property, and Amazon announcing plans to host OpenAI models the day after. Google will bring GPT products to its model garden and Antigravity coding tool in the coming weeks. Google's cloud segment saw annualized revenue growth accelerate to about 82% in the second quarter from 63% in the first, while Amazon and Microsoft posted second-quarter cloud growth of 37% and 42%. OpenAI is courting investors at a $1.4 trillion valuation and targeting an initial public offering.

  CNBC·21/10, 12:00▲ GOOGL▼ MSFTOpenAIcloud computingartificial intelligence
• What's unique about Gecko Robotics' contracts with Nvidia & the US Navy: CEO

  Gecko Robotics CEO Jake Loosararian says the company's US Navy contract has grown from $71 million awarded in April to $300 million, more than quadrupling, to help the military branches stay ready. The robots gather data that feeds the company's AI systems, helping shipyards and dry docks repair and maintain ships faster and return them to service. Loosararian says the company has deployed in critical environments for 13 years and has a robust security architecture to keep sensitive data private, including with the Navy. A recently announced Nvidia partnership adds deployment of AI agents in these environments, and the Navy-specific robot Komodo was built alongside experts and designed to keep humans in control. He argues the technology gives workers insights and repair capabilities they never had before, claiming China does not have any of this.

  Yahoo Finance·21/10, 12:00defenseartificial intelligenceNvidia
• Meta, Tesla, and IBM earnings: What to Watch

  Market Domination Overtime host Brooke DiPalma previews three big tech earnings reports due Wednesday, Oct. 21: Meta (META), Tesla (TSLA) and IBM (IBM). Investors will look for signs that Meta's heavy AI spending is paying off, including its new Muse AI assistant and plans to give developers access to its AI models, while Wall Street already expects its capital spending to reach $200 billion in 2027. Tesla, which already beat Wall Street's vehicle delivery estimates for the quarter, reports Q3 results after the market closes, and investors will watch for updates on its Robotaxi expansion, Cybertruck rollout and Optimus robots. IBM will be judged on whether its software sales improve after a volatile week for the sector, with attention on steady demand for Red Hat software and its outlook for the rest of the year.

  Yahoo Finance·21/10, 12:00• META• TSLAearningsMETATSLA
• Dogecoin wallet, app teams unite in push to give DOGE more everyday uses

  Dogecoin Labs, formed with the Dogecoin Foundation, will own and operate the MyDoge wallet, the DogeOS application network and the Such App merchant payment tools, with MyDoge and DogeOS founder Jordan Jefferson as CEO. The aim is to connect developers building apps on DogeOS, holders who find them through MyDoge, and merchants accepting payments through Such App, giving DOGE more ways to be used. MyDoge says it has more than 500,000 users without paid acquisition, and its V3 update links the wallet to DogeOS apps, though the announcement does not say how many users are active. Such App's beta already supports invoices and in-person QR payments, but its DogeOS connection is still in planning, and DogeOS's featured apps remain “coming soon” even though its public test network opened on Sept. 30, while a planned security link to the Dogecoin blockchain is still a draft. DOGE was recently trading around 8.2 cents, up 3.9% in the past 24 hours.

  CoinDesk·21/10, 12:00▲ DOGE/USDTcryptoDogecoinpayments
• AI will 'amplify your capabilities': Jensen Huang

  At Nvidia GTC Berlin, CEO Jensen Huang told Deirdre Bosa that AI is already widely used and that its improvement will amplify people's own capabilities. He said it will also drive breakthroughs in the medical, automotive and aerospace industries. Huang argued that AI is a tool that will amplify capabilities, adding that he knows no one who would not want such a useful tool.

  Yahoo Finance·21/10, 11:56▲ NVDANVDAartificial intelligenceJensen Huang
• Nuclear needs ‘humility’: Kairos Power CTO on Hermes 2, safety, costs and scaling

  Kairos Power, which has raised $643m from investors including Google Ventures, the US Energy Department and Samsung C&T, is building the Hermes demonstration reactor, set to be the world's first operational pebble-bed, fluoride salt-cooled high-temperature reactor. The company broke ground on Hermes 2 in April, the first deployment under its deal with Google to help decarbonise data centres in Tennessee and Alabama. In an interview, CTO Edward Blanford explains that its design uses FLiBe molten-salt coolant and TRISO fuel in pebble form, which keeps fission products contained within the fuel and allows lower-pressure plants with less costly containment and more conventional construction. Trade-offs include the need for clean coolant in testing, which requires specialised facilities, and the added cost of lithium-7 enrichment, which Kairos is developing in-house. FLiBe melts at around 459°C but has a wide gap before boiling, and its use requires lithium-7 enriched to 99.995% purity.

  Yahoo Finance·21/10, 11:54nuclear powerdata centerselectricity