Households in this country saved an additional €15bn in the year to April in response to the coronavirus pandemic. This took total household savings to a new record of €131bn, according to Central Bank data. In the month of April alone an extra €2.2bn was saved in banks and credit unions. Read MoreAcross the Eurozone as a whole the rate at which households saved almost doubled last year in response to the pandemic. The European Central Bank said the savings rate had risen to between 12pc and 13pc across the Eurozone during the pandemic.

Source: Irish Independent June 15, 2021 12:00 UTC