Savings held by Dutch households mounted to almost €284bn by the end of May, up 16% on the year-earlier period, according to new central bank figures.

‘People have become more cautious about spending money. They’ve seen share prices and house prices fall and unemployment rise,’ ING economist Marten van Garderen told the Telegraaf.
In addition, people are shifting their savings from non-access accounts to accounts where they can easily get their money if needed, the central bank said.