A level not seen for more than ten years. This is one of the rare positive effects of the rise in prices for the French: the Governor of the Banque de France should propose to the Minister of Economy and Finance an increase in the rate of the Livret A to more than 3% in February, due to its method of calculation depending on the level of inflation. An unprecedented rate since 2009.
Asked by the press this Wednesday morning, the Minister of the Economy, Bruno Le Maire, and the Governor of the Banque de France, François Villeroy de Galhau, both refused to confirm this information, referring to the decision which will be taken Friday. “It will be a number that I will decide based on the recommendation of the governor,” the minister said on France 2.
“There will be a significant increase”
Central actor of the subject since in charge of the famous calculation, the governor of the institution François Villeroy de Galhau once again repeated on Classic Radio that “there will be a significant increase”.
The most common savings account rate in France, which started last year at a low of 0.5%, doubled for the first time on February 1, 2021 and then again on August 1, to reach the level current 2%.
The remuneration of this booklet results from 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 money at short term. It brings with it that of the Sustainable and Solidarity Development Booklet (LDDS).
However, inflation is still evolving at high levels and the increase in the key rates of the European Central Bank (ECB) is pushing the second component of the formula upwards.
The rate is expected at 3.2% or 3.3%, calculates Philippe Crevel, director of the Circle of savings. For a saver with 10,000 euros on his Livret A, the full-year remuneration would therefore be 320 or 330 euros respectively, compared to 200 euros at the current rate.
The People’s Savings Book (LEP) rate, reserved for the most modest households, will also benefit from a very significant increase. Its formula, modeled on the inflation rate, could propel it to 6.1%, according to Philippe Crevel.