2023-07-13 12:58:06
Typically, the rate of return on this very popular investment is recalculated every six months.
This is the most famous placement of the French. “We have decided to maintain the rate [du livret A] 3% for reasons of national economic interest. This rate will be maintained for eighteen months, instead of six., announced the Minister of the Economy, Bruno Le Maire, Thursday, July 13, on TF1. A decision in line with the announcement, a little earlier, by the Governor of the Banque de France, who proposed to maintain the yield on the Livret A rate at 3% on August 1, despite inflation.
This announcement implies not applying, for the second time in a row, the usual formula for calculating the rate, which would have resulted in an increase to 4.1%. However, in order to better pass the pill on some 55 million holders of this investment, the Minister of the Economy has decided to maintain this rate, normally every six months, until January 2025. A way to avoid a potential decline by then.
According to the Governor of the Banque de France, two reasons played in this decision, he explains in a press release. On the one hand, inflation, which is falling and might generate volatility in the rate in the months to come, and on the other hand, the fact that a “too high a rate, while regulated savings have no equivalent among our European neighbours, would be detrimental to our economic activity and to growth”.
PELs can be released for energy renovation projects
Bruno Le Maire also indicated that the popular savings account rate would be maintained at 6%, when it should have been lowered. The popular savings account can bring in up to 470 euros per year so far. It is reserved for people with modest incomes, who earn less than 21,393 euros per year for a single person.
Finally, the Minister’s last announcement: housing savings plans can be released at any time to finance energy renovation work on buildings. “Today, you can’t unlock it for four years when you want to buy a home, then you can unlock it whenever you want when you want to do energy renovation”. Eight million French people have a PEL.
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