The savings account registered a net withdrawal of BRL 3.755 billion in June, data from the Central Bank showed this Thursday, the largest withdrawal for the month since 2015, when the result was negative by BRL 6.261 billion.
From last month’s total, withdrawals exceeded deposits in the Brazilian Savings and Loan System (SBPE) in the amount of R$ 3.333 billion. In rural savings, net outflows were just over R$ 422 million.
With the end of the civil servants’ strike, the BC began to present indicators whose disclosures were delayed. In addition to the June data, the monetary authority also brought the May figures, when there was a net inflow of R$ 3.515 billion in savings.
After record inflows in 2020, with the payment of emergency aid and the low level of the basic interest rate, the flow of funds in savings showed a reversal of direction in 2021.
Without emergency social transfers and in the face of the aggressive monetary tightening implemented by the BC to contain inflation, which reduced its attractiveness compared to other investments, savings have been accumulating significant withdrawals.
In the first half of 2022, May was the only month with a positive result. For the year, savings already have a net withdrawal of R$ 50.489 billion.
With the economy’s basic interest rate above 8.5% per year (the Selic is now at 13.25%), savings deposits returned to a fixed yield of 0.5%, or 6.17% per nominal year, plus the reference rate (TR), which leaves the remuneration lower than other fixed income investments.
Source: CNN Brasil
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