The volume of household bank savings picked up also in January. Euro savings are still rising, whereas foreign currency savings have declined for the eighth consecutive month in response to lower interest rates. The volume of time deposits continues to rise and has increased by 2.5% at the monthly level and by almost one fifth year on year. Whereas the volume of assets in mutual funds managed by domestic administrators had never dropped by more than 5% in the last ten years, it fell by a good tenth in January, recording a decrease in the amount of more than EUR 300 million. Consequently, the year-on-year growth rate more than halved compared to that at the end of last year.
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