Savings withdrawals in August exceed deposits by R$10.1 billion, informs Central Bank

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According to the institution, in the first eight months of this year, the outflow of resources from the traditional type of investment totaled R$80.3 billion. Withdrawals of funds from savings accounts in August exceeded deposits by almost R$10.1 billion, the Central Bank reported this Friday (08). According to the institution, last month: deposits totaled R$ 321.6 billion. withdrawals totaled R$331.7 billion. According to BC, there was a drop compared to the same month last year, when net outflows (difference between withdrawals and deposits) of savings resources totaled R$22 billion – the highest value recorded since the beginning of the Central Bank’s historical series, in 1995. From January to August this year, according to information from the Central Bank, withdrawals exceeded savings deposits by R$80.3 billion. Economic scenario The withdrawal of resources from the savings account takes place in a scenario of still high interest rates, despite the Selic cut announced by the Central Bank at the beginning of August. At the time, the economy’s basic rate went from 13.75% to 13.25% per annum. High interest rates reflect on the fees charged by banks — which are still at historically high levels.

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