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Households save and pay down debt
31 Aug 2015 11:11
Irish households continued to pay down debt and save money in July, according to figures from the Central Bank.
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The figures indicate that loan repayments exceeded drawdowns by €346 million in the month.
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It was largely driven by declines in loans for house purchase.
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Total loans to households were down by nearly 3% in the year to July.
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Loans for house purchase, which accounted for 83% of total loans, were down by 2.6%.
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In the year to July, repayments on home loans exceeded drawdowns by €2.1 billion.
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Household deposits increased by €673 million in July, despite interest rates being at all time lows.
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For the 12 months to the end of July, household deposits increased by €2.1 billion.
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