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Austrians Hold More Cash Reserves
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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