BoG: Covid-19 vaccination campaign to boost consumers' confidence, amid surge in private bank deposits

Thursday, 08 April 2021 22:42
UPD:22:44
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Ongoing vaccinations programs in Greece to protect the population against the Covid-19 virus are expected to boost consumer and household confidence, the Bank of Greece (BoG) reported this week in a report, stressing that such confidence is necessary to harness increasing bank deposits into consumer or investment activity - at least by the more financially robust households.

The BoG also forecasts that a portion of higher bank deposits will cover loan obligations and arrears to the state, when a temporary legal protection extended to at-risk from creditors is lifted.

The entire report is here:

https://www.bankofgreece.gr/en/news-and-media/press-office/news-list/news?announcement=27183b77-7e27-4419-acbc-56ab03a10dd9

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