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Austrians Hold More Cash Reserves
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According to the Austrian National Bank, Austrian savers have reduced their deposits at Austrian banks. In return, cash reserves have risen.
Austrians Hold More Cash Reserves / Picture: © Vindobona.org
In the last years, the savings quota has fallen steadily. In the last four quarters, the average savings quota came at 5.2%. Two years ago, the savings quota came at 7.5%. In 2007, the savings quota stood at 12.5%.
In the medium term, this trend is expected to continue. This was published in the Financial Stability Report.
In the second quarter of 2013, bank deposits were…
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