The Governor of the Banque de France, in charge of calculating the Livret A rate each semester, proposed Thursday to double the rate by setting it at 2% from August 1, its highest level for almost ten years.
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This "
significant
" increase and that of the People's Savings Book (LEP), which would increase at the same time from 2.2% to 4.6%, "
help to support the remuneration of savers in the face of rising prices
", says a statement from the central bank.
It is now up to the Minister of the Economy Bruno Le Maire to ratify this proposal.
A rate well below inflation
A savings product held by the most French people, the Livret A has its rate calculated automatically twice a year.
The calculation formula takes the average between, on the one hand, the average inflation rate of the last six months and, on the other hand, the average of the interbank rates, at which the banks exchange short-term money .
This was applied to the letter, specifies the Banque de France.
In February, the remuneration of the Livret A had already doubled, going from 0.5%, a historic low, to 1%.
While this increase may seem like good news for French savers, it should not make us forget that the rate, even when revalued, will remain very much lower than inflation, measured by INSEE at 5.8% over one year in France in June.
The Popular Savings Book, which sees its rate revalued to 4.6%, is reserved for people with incomes not exceeding certain ceilings (20,297 euros annually for example for a single person).
The Banque de France “
recalls its support for this instrument which makes it possible to protect the purchasing power of popular savings
”, explains the press release, while deploring that too few eligible people hold them.
On Wednesday morning, the governor of the Banque de France François Villeroy de Galhau had qualified as “
possible
” an increase of 1% to 2% in the rate of the Livret A, excluding however any exceptional boost.
