New Central Bank data shows Irish households, businesses and banks are hoarding cash. Households and businesses are increasing their deposits with banks, and paying down debt. And banks are increasing their deposits with the Central Bank. This is not a good sign. From cash-hoarding, it’s a short hop to a recession.  Excessive cash hoarding isn’t just an Irish problem. In the eurozone, businesses hoarded money at a record rate in July, with deposits increasing by 20.4 per cent. Eurozone households increased their deposits by 7.4 per cent. And in the US, a record amount of cash was deposited in banks from…

Want to continue reading?

Join today with an Annual membership and get full access to The Currency for just €200 (68c per day) or try monthly membership for just €5 for your first month.

Subscribe

Cancel at any time.

Are you already a member? .