BC: withdrawals from savings exceed deposits by R$ 12.37 billion

Withdrawals from savings accounts exceeded deposits by R$ 12.377 billion in November, reported today (6) the Central Bank (BC). This was the largest net withdrawal for the month, in the historical series started in 1995.

Last month, deposits reached BRL 281.713 billion and withdrawals reached BRL 294.09 billion. In November 2020, there were more deposits than withdrawals, with a positive balance of R$1.479 billion.

From January to November, a net withdrawal of R$ 43.157 billion was registered. In 2020, savings account raised BRL 166.31 billion in resources, the highest annual value in the historical series, due to the influence of emergency aid deposits and the increased interest in investment, amidst the crisis generated by the covid-19 pandemic.

income

In November, the investment yielded 0.44% in November, according to BC. The yield was below the preview of inflation , measured by the Extended National Consumer Price Index 15 (IPCA-15), which reached 1.17% last month.

According to current legislation, the remuneration of savings deposits is made up of the Referential Rate, which is at zero, plus 70% of the monthly basic interest rate, the Selic. This rule is valid as long as the Selic rate is equal to or less than 8.5%. Currently, the rate is at 7.75% per year.

With the Selic rate above 8.5% per year, savings yield TR plus 0.5% per month. According to the expectations of the financial market , the Selic should rise to 9.25% a year, at the meeting of the Monetary Policy Committee (Copom) of the Central Bank, responsible for setting the rate, this week.

Text translated using artificial intelligence.