The raw quarterly figures show that the savings ratio dropped after reaching a more than two-year peak at 7.2% of GDP in Q1 this year. The seasonally-adjusted ratios reveal, however, that households stabilised slightly over 6%-of-GDP in the first three quarters, after moving between 5% and 5.5% between Q2 2012 and the end of 2013.
The adjusted ratios were the highest since the late 90s, except at the turn of 2011-2012, when net savings were boosted by a government scheme that allowed retail borrowers to repay their FX loans in full at preferential exchange rates.
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