Households returned to taking money from government savings products in July.maintain The trend observed since the end of the year Past. According to data released on Thursday by the Bank of Portugal, the group of savings and treasury certificates decreased by 102.16 million euros to 44,183.32 million euros.
It is the eleventh consecutive month of decline. In the case of the “stock” of savings certificates, in July there were Monthly decrease of 19.29 million From euro to 33,941.31 One million euros. This was Eighth consecutive relegation.
actually Treasury certificates decreased by 82.87 million.Q from euro to 10,242.01 €1 million in June. Since November 2021, the “stock” of this source of state financing has begun to decline.
Until August of last year, the money that entered into savings certificates was offsetting the outflows recorded in treasury certificates.But that is no longer the case, with the total volume of these two products declining since September. This trend has continued throughout the last four months of last year and will continue into 2024.
With the increase in bank deposits, and after curbing the rise in interest rates on savings certificates, with the introduction of a new series, the state’s savings products became less attractive.
