There will be no exceptional support. But a doubling of the Livret A rate, from 1% to 2%, from August 1 in the wake of higher inflation, is “possible,” according to an estimate by FranceInfo, the governor of the Bank of France.
As an application of the formula [qui prend notamment en compte l’inflation] led to a significant increase in Livret A, and even more in LEP (Livret d’épargne populaire), there is, in our opinion, no justification for making an additional exceptional gesture”, explained François Villeroy of Galhau.
Semi-annual account
The Livret A rate is automatically calculated twice a year by taking the average between the average inflation rate for the past six months, on the one hand, and the average interbank rates, on the other hand, short-term money exchange.
If the Governor of the Bank of France applies the formula to the letter, his decision is binding. If he wishes not to be bound by it, the decision is then taken by the Minister of Economy. In February, the bonus for booklet A has already increased from 0.5% to 1%. This bonus could double to 2% after June inflation was confirmed at 5.8% within one year.
The largest increase in LEP
“It will be much more for the people’s savings book,” said Mr. Villeroy de Galhau, which is accessible under income conditions. The LEP is already following inflation and should therefore rise from 2.2% to 4.5% on August 1, according to specialists’ calculations.
The governor of the Bank of France, who invited them to take advantage of this savings solution, said that about 19 million French people have access to the people’s savings book with a maximum of 7,700 euros, but almost half of them do not have one.
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