However, as we have highlighted in our research, these savings are likely to be unevenly distributed, with more than half of savings concentrated in the top 30 per cent of households by income. But we do not take this resilience for granted, especially in the face of persistent shocks.
Our ongoing analysis of household responses to high inflation and income variability ( Lydon (2022), Arrigoni et al. (2022), Adhikari (2022)) as well as to interest rate rises ( Lyons et al (2022, FSR 1, Box C)) will continue to highlight groups that are most vulnerable, allowing for appropriately target measures to be implemented.