Post-Covid consumer mood could be more alienation than celebration For some there will be savings to spend, for others ‘persistent scarring effects’
about 4 hours ago
Fears, walks, strange dreams: this pandemic has led to an excess of many things. For the financially and professionally lucky, it has created a glut of “involuntary” savings now poised to be spent once restrictions fall away. But in which directions will the money spray?
In an economic letter published by the Central Bank of Ireland, Reamonn Lydon and Tara McIndoe-Calder outline a scenario where €5 billion pours out from these unexpectedly swollen bank accounts, as consumers part with “a relatively high share” of their savings and make the post-Covid “bounce” that bit bouncier.