Czech Household Debt on the Rise

BusinessEconomy ♦ Published: October 31, 2012; 18:02 ♦ (Vindobona)

Against 2011, Czech household debt was up by 4.2%. At the end of September, the level of debt of Czech households to banks reached € 45.8bn.

Czech Household Debt on the Rise / Picture: © Czech National Bank

According to the Czech National Bank (CNB), the debt level was up by € 1.88bn against September 2011. Compared to August 2011, debts to banks rose by € 200m. Debts of companies rose by € 0.66bn to € 38.5bn. What is more, deposits decreaseing by 7.3% to € 43.3bn.

The moderate increase in debt may be interpreted as first success of the monetary easing policy of the Czech…