Site map
العربية Български 中文 Čeština English Français Deutsch हिन्दी Bahasa Indonesia Italiano Bahasa Malay اردو Polski Português Română Русский Srpski Slovenský Español ไทย Nederlands Українська Vietnamese বাংলা Ўзбекча O'zbekcha Қазақша

InstaForex Client Area

  • Personal settings
  • Access to all InstaForex services
  • Detailed statistics and reports on trades
  • Full range of financial transactions
  • System of managing several accounts
  • Maximum data protection

InstaForex Partner Area

  • Full information on clients and commissions
  • Graphic statistics on accounts and clicks
  • Webmaster instruments
  • Ready-made web solutions and wide range of banners
  • High data protection level
  • Company's news, RSS feeds, and forex informers
Register
cabinet icon

InstaForex – always at the forefront!Open a trading account and become a part of the InstaForex Loprais Team!

Success history of the team headed by Ales Loprais can become your success history! Trade confidently and head towards leadership like regular participant of Dakar Rally and winner of Silk Way Rally InstaForex Loprais Team does it!

Join in and win with InstaForex!

Instant account opening

Get a letter of instructions
toolbar icon

Trading Platform

For mobile devices

For trading via browser

Caricatures and drawings on Forex portal

Savings rate in Europe hits record high

Savings rate in Europe hits record high

The coronavirus pandemic has forced many European citizens to rethink their financial management skills and habits. Therefore, experts have recorded a number of changes in the consumer behavior of Europeans.

Since the beginning of the pandemic, savings of most households in Europe have increased markedly. The ECB analysts attribute this to two main factors - a sharp pullback in consumer spending during quarantine and their intention to stockpile cash for a rainy day.

Between February and May 2020, European investors put €214 billion aside. As a result, deposit gains in European banks reached €7.3 trillion. According to the regulator, this is the highest figure in the last few years. The personal savings rate in Europe peaked at 136% in the period of March to April, when quarantine restrictions were the most severe.

However, experts fear that money will end up in citizens' pockets and will not be used for the benefit of the economy. ECB President Christine Lagarde confirms their concerns. She said that the recovery from the COVID-19 pandemic will be "restrained" as trade and production are unlikely to return to pre-crisis levels.

It will take time for the "phenomenal" jump in savings of Europeans to trickle into the eurozone economy, primarily into higher investment and spending, Christine Lagarde noted. In case these sectors take a tumble amid the crisis triggered by the pandemic, government and company debt is likely to increase dramatically.

Back

See aslo

Close
Widget calback
Our specialist
will call you back
in five minutes
We will navigate you
through the website and
answer all your questions!
Preferred Type of Connection
Preferred language
  • English
  • Русский
  • العربية
  • Bahasa Indonesia
  • Bahasa Melayu
  • বাংলা
  • Български
  • 中文
  • Español
  • हिन्दी
  • Asụsụ Igbo
  • Português
  • اردو
  • ไทย
  • Українська
  • Tiếng Việt
  • Èdè Yorùbá
A call-back request was accepted.
Our specialists will contact you as soon as possible.
An error occurred.
Please try again later.
Can't speak right now?
Ask your question in the chat.