Portuguese families significantly reinforced their savings over the past year, having invested a total of 13.7 billion euros in new deposits. This value represents significant growth in savings accumulation by households in Portugal.
The average rate on new bank deposits rose for the sixth consecutive month, reaching 1.59%. This upward trend has been occurring consistently, reflecting the environment of higher interest rates.
However, despite this increase, the average rate practiced in Portugal remains below the average recorded in the euro area. This difference suggests that Portuguese banks still offer less favorable deposit remuneration conditions compared to the other countries of the single European currency.
