A first for ten years. Bruno Le Maire confirmed the increase in the Livret A rate from 0.5% to 1% on February 1, following the proposal of the Governor of the Banque de France.
This took into account the sharp rise in inflation over the past six months. It also proposes to raise the rate of the popular savings account (LEP), reserved for the most modest to 2.2%, according to a press release from the French central bank.
On Monday, December 13, the Minister of the Economy Bruno Le Maire announced that the rate of the livret A would increase in January.
The interest rate of the Livret A is calculated by making the average between, on the one hand, the average of the inflation rate of the last six months and, on the other hand, the average of the interbank rates, i.e. say the rates at which banks exchange money in the short term.
The result is then rounded to the nearest tenth of a point, without being able to fall below 0.5%, the current rate.
Despite a level of remuneration at the lowest level, the Livret A, which is used in particular to finance social housing in France, has become a safe haven for savers during the health crisis which has seen its outstandings jump. But since May, net inflows have slowed sharply, as consumption has picked up and inflation has picked up.