Savings help households cope with rising interest rates
Mäki-Fränti, Petri; Silvo, Aino (05.07.2023)
JulkaisusarjaBank of Finland. Bulletin
JulkaisijaBank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi-fe2023070690316
The rise in consumer prices and interest rates continues to put a strain on households this year. This is affecting households in a variety of ways, depending on their income, wealth and debt. The cost of living of low-income households has risen slightly more than that of high-income households. The largest interest expenses in euro terms burden average and high-income households, but they are also well placed to cope with a rise in expenses. Most Finnish households’ financial margin is quite good, which dampens the macroeconomic effects of higher prices and interest rates.
Find the accessible version on bofbulletin.fi.