In March, Germans withdrew ~€18bn from their bank accounts possibly b/c banks do not pass on higher ECB rates to customers.

In March, Germans withdrew ~€18bn from their bank accounts possibly b/c banks do not pass on higher ECB rates to customers. Money mkt funds making comeback, as in US. But consumers may also have to liquidate savings to be able to afford more expensive food or energy.

h/t betsharks0