The savings rate for Spanish households is currently 7.7% of their gross disposable income, the lowest level for a decade. The fact is that the current low interest rate scenario doesn’t encourage saving, but boosts households’ tendency for spending.
J.L.M. Campuzano (Spanish Banking Association) | The Bank of Spain has published the financial accounts for households and companies in the second quarter. The cash and deposits component was the highest, standing at 44% of total financial assets, representing a 1.3 percentage points rise in the period. This says a lot about their huge lack of confidence in the future.