The Livret A rate rose from 2% to 3% on February 1, the highest since 2009

The rate applied to the Livret A will be 3% from 1^er february. A level not reached since 2009, but still lower than inflation. Bruno Le Maire confirmed on Friday January 13 the increase, from 2% to 3%, proposed earlier in the day by the Banque de France.

This proposal is the result of a slight downward revision, François Villeroy de Galhau invoking in a press release of the “exceptional circumstances” to spare the finances of social housing, whose loans are often indexed to this rate. Without rounding, the calculation formula taking into account on the one hand inflation (5.9% in December, according to INSEE) and on the other hand the interbank rates, at which the banks exchange money at short term, would have brought the rate to 3.3%.

The 3% will be applicable from 1^er February to some 55 million Livret A, as well as the Sustainable and Solidarity Development Booklet (LDDS). That “already represents a significant increase”specifies the central bank in a press release, wishing “that the Livret A rate movements remain gradual rather than too volatile, and this upwards as one day, potentially, downwards”.

500 billion deposited by the French

The 500 billion euros deposited by the French on these two products, most of which is centralized by the Caisse des dépôts (CDC), are intended in part to finance social housing, the social and solidarity economy or the savings energy in homes.

If the increase in the rate is good news for savers, it is therefore less well received by certain public actors, whose loans with the CDC are often indexed on this rate.

The Livret A rate, still at its lowest level of 0.5% a year ago, had doubled for the first time on the 1^er February 2022, then again on 1^er August, to reach 2%. As for the rate of the People’s Savings Book (LEP), reserved for the most modest, it should jump from 4.6% to 6.1%, a good deal for a public not always in a position to be able to save.

The Bank of France “strongly supports this instrument whose simplification of the opening procedures, promotion and remuneration have led to more than 2 million openings in 2022”she explains.