2024-01-15 14:03:38
The governor of the Bank of France had promised that the next rate of the popular savings account (LEP) that he would propose would be much higher than inflation, which reached 3.7% over one year in December. And he largely kept his word. The Minister of the Economy, Bruno Le Maire, made it official this Monday duringan exchange with readers of La Voix du Nord that the yield of the LEP, accessible to the most modest French people, will be 5% from February 1 and for the next six months.
“With inflation going below 3%, you will have a popular savings account whose remuneration will be more than two points above inflation,” welcomed the boss of Bercy. Before adding that “no other European country offers popular categories such protection of their savings”.
The remuneration of the popular savings account should have fallen to 4.4% on February 1. I decided, with the governor of the Banque de France, to give a helping hand by setting the remuneration at 5%.
This is an exceptional rate on the savings market and it is significantly more than…
— Bruno Le Maire (@BrunoLeMaire) January 15, 2024
The Livret has frozen at 3%
This slight drop in the LEP rate from 6% to 5% is indeed very good news, since the strict application of the formula, namely the half-yearly average of inflation, resulted in a theoretical rate of 4.4%. . This is the second consecutive boost given by the public authorities to this regulated savings account, which rose to 6% on August 1, 2023, when it should have fallen to 5.6%. Favorable treatment unlike Livret A, the rate of which was frozen on August 1, 2023 and for 18 months at 3%, far from its theoretical remuneration.
Enough to contribute to the revival of popular savings dear to François Villeroy de Galhau, governor of the Bank of France. While 18.6 million French people are eligible under income conditions, the number of LEPs had fallen to 6.9 million, for an outstanding amount of 38.3 billion euros. Today, 10.7 million savers have one for a total outstanding amount of 66.6 billion euros.
#Popular #savings #account #rate #drops #expected