![]() ![]() These financial gains may have helped euro zone growth. Even so, companies and households have pocketed 6 billion euros in net interest since 2020 and were still net recipients of interest payments of about 660 million euros in June this year. As a result, euro zone firms’ net interest was negative 19 billion euros in the second quarter of 2023. Nearly 36% of citizens’ assets were in currencies and bank deposits, which tend to respond quickly to rate changes, while nearly all their liabilities were in the form of loans such as mortgages, which tend to have interest rates that are fixed for a while.īy contrast, non-financial companies derive most of their funding from shorter-term bank loans – nearly 80% of those have a maturity of less than one year, according to Oxford Economics. The windfall for households reflects the make-up of their balance sheets. ![]()
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