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German Central bank

German Central bank latest

Pandemic Drives German Consumers to Hoard Billions in Bank Accounts
March 29th, 2021 - 02:00 GMT

Pandemic Drives German Consumers to Hoard Billions in Bank Accounts

The coronavirus pandemic has led Germans to hoard their money in bank accounts, weakening hopes for a consumer boom in the near future. Between January 2020 to January 2021 the amount held in private household bank accounts increased by 182 billion euros (215 billion dollars) to reach 1.73 trillion euros, according to the latest figures from Germany's central bank , dpa reported. The ifo economic research institute estimated that this ...
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