The number of no frills accounts also grew by 50 per cent. While considerable progress has been made, a lot more needs to be done to garner the savings of households. The moderating of financial savings of households from 12.1 per cent of GDP in 2009–10 to 9.7 per cent in 20010–11 is an area of concern.
Bank of Latvia’s policies and the introduction of the euro Our policy responses to the euro are based on the general objectives set by our country. Accession to the EU is a strategic aim for Latvia, and we see entry in the European Monetary Union as a part of this task.