2023-08-23 07:00:13
In July, net inflows from these two pillars of regulated savings amounted to +3.13 billion euros, an unprecedented figure for the month of July. This brings the total outstanding to 547.4 billion euros, a sum never reached before. This exceptional year can be explained in particular by the increase in the rate from 2 to 3% in February and the weak competitiveness of euro life insurance funds. As Philippe Crevel, director of the Cercle de l’épargne points out, ” households do not change their behavior ” despite the rate freeze for 18 months, a blow for savers.
A remarkable year for booklets
The Minister of the Economy, Bruno Le Maire, decided to maintain the rate at 3% on August 1 and until January 2025, despite an initial forecast of 4.1%. Thanks to this decision, the Livret A and LDDS accounts have been enriched by 37.67 billion euros since the beginning of the year. However, the rate freeze is not without consequences for passbook holders, especially in times of inflation. It might represent a shortfall of approximately 3 billion euros from August 2023 to January 2024, not to mention nearly 800 million euros amputated from February to July 2023.
Rate Freeze Disputes
This decision was also the subject of an appeal before the Council of State by a law professor, Paul Cassia, who contests the notion of ” exceptional circumstances used by the Banque de France. The ministry has indicated that a response will be provided within two months.. In the eyes of savers, the advantages of Livret A and LDDS savings accounts outweigh the problem of the rate freeze. These savings products are accessible, secure and tax-free. The Livret A accounts support public utility projects while the LDDS finances sustainable and solidarity projects. Their attractiveness remains high, which is confirmed by the records reached this year.
1692774690
#rate #freeze #record #Livret #LDDS