RIO DE JANEIRO, BRAZIL - Brazilian savings accounts shrank by R$5.83 billion (US$1.04 billion) in February, figures showed on Thursday, March 4th, the second month of withdrawals after the end of emergency government cash transfers forced consumers to dip deeper into savings.
It follows a record R$18.2 billion net withdrawal in January and is the first time in just over a year that savings account deposits have fallen two months in a row, central bank data showed.
Brazilians deposited a record net R$166.3 billion into savings accounts last year. The COVID-19 pandemic . . .