2023-04-25 08:34:18
The director general of the Caisse des dépôts et consignations (CDC) Eric Lombard said on Tuesday that he wanted the Livret A to remain at 3% next August, while a further increase is possible.
“As this rate serves as the basis for the cost of financing social housing, and there are 170 billion euros borrowed by social housing, I hope that this rate will remain stable over time,” said Mr. Lombard on France Info, stressing that “it is essential that social housing continues to build”.
The role of the CDC is to manage part of the Livret A money, with the banking networks.
Faced with inflation that Mr. Lombard considers “transient”, “it is not worth yo-yoing with the Livret A rate”, according to him. “Probably, when inflation goes down, this rate will go down, but it won’t be for now,” he added.
The Livret A rate, a savings product held by approximately 55 million French people, is calculated twice a year, in February and August, and may be calculated twice more, in May and November, in the event of circumstances. exceptional.
Its level is decided taking into account on the one hand the rise in prices and on the other hand the interbank rates, at which the banks exchange short-term money, for the last few months.
Thus, next summer, the rate could drop to 4%, or even 4.3%, according to Philippe Crevel, director of the Circle of Savings.
However, the Governor of the Banque de France and the Minister for the Economy have the option of derogating from the calculation rule.
This is what happened in February 2022, when the Banque de France had proposed rounding to 1%, instead of 0.8%, then in February 2023, but in the other direction this time, when the institution had proposed 3% instead of 3.3%.
Still at its floor of 0.5% at the very beginning of 2022, it has since been revalued three times, due to high inflation. The press has recently echoed the concerns of banks about a new increase, which would force them to better remunerate the savings of the French.
“Any speculation on a future decision by the Banque de France is premature and unfounded today”, however declared on RTL on Tuesday François Villeroy de Galhau, the governor of the Banque de France, recalling that he would make his proposal “in July “, depending on the situation “at that time”.
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