Savings lose R$ 66.6 billion in the accumulated until June 2023, says Central Bank
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Savings account had a positive result in June. This reduced the total amount of withdrawals in the semester. Accumulated the first five months pointed to the withdrawal of almost R$ 70 billion from Thinkstock savings The savings account lost R$ 66.6 billion in 2023, accumulated until June, according to data published by the Central Bank this Friday (7). The amount is the difference between deposits and withdrawals made in the first half of the year. It means that people withdrew more than they made contributions. According to the Central Bank, in the first semester: deposits were R$ 1.86 trillion; Withdrawals totaled R$ 1.92 trillion. Until May, the accumulated in the five months pointed to the withdrawal of almost R$ 70 billion in the year. The total was reduced in June due to the positive result in the month. In June, there were more deposits than withdrawals. The difference was approximately R$2.6 billion, with deposits of R$331.9 billion and withdrawals of R$329.3 billion. Savings had the first year of real income since 2018 last year, 2%, discounting the increase in the Extended National Consumer Price Index (IPCA). The previous three years saw earnings below official inflation. Currently, the yield on savings is 0.18% for the reference rate (TR, which is calculated by the weighted average of fixed-rate public bonds). There is also an additional yield of 0.5%, applied when the economy’s basic interest rate is above 8.5%. The Selic rate has been at 13.75% per annum since August 2022, as determined by the Central Bank’s Monetary Policy Committee (Copom). The Selic also affects the fees charged by banks.
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