The rate of remuneration of the booklet A and the booklet of sustainable and solidarity development (LDDS) should be further revised upwards on August 1, 2023 for a fourth consecutive revaluation.
After an increase of 0.5% to 1% on February 1, 2022, then from 1% to 2% on August 1, 2022 and from 2% to 3% on February 1, the rate of remuneration of the livret A and the LDDS could increase to 4% on August 1, reports the site Boursier.com. which is explained by “the current inflation peak and the sharp increase in interbank rates”.
Towards inflation at 5.5% in the first half of 2023
As a reminder, the rate of remuneration for these two booklets is revised twice a year, on February 1 and August 1, by taking the average between, on the one hand, the average inflation rate excluding tobacco for the last six months and , on the other hand, the average of the interbank rates, at which the banks of the euro zone exchange short-term money.
However, according to the latest INSEE economic report published on Wednesday March 15, the rise in consumer prices should remain at a high level in the first half of 2023. If the peak of inflation is probably reached today with + 6.3% over one year in February, the consumer price index should gradually decline to settle at 5.4% next June, due to the ebb in oil prices in particular. As a result, average inflation could be around 5.5% for the first half of 2023.
With regard to interbank rates, they are directly influenced by the recent rise in key rates by the European Central Bank (ECB). As a result, the half-yearly average of interbank rates is currently rising sharply and could be around 2.70%, compared to only 0.56% for the second half of 2022, according to the Boursier.com site.
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“Too high a rate would be very unfavorable”
By strictly applying the calculation formula, the rate of remuneration of the livret A and the LDDS should therefore be increased to 4.1% next August. But if we stick to the position adopted last January by the Banque de France and the government, it should rather be around 4%. “Too high a rate would be very unfavorable” to the French economy, and in particular to the financing of social housing and urban policy, the Governor of the Banque de France explained on January 13.
It should be noted that the rate for the two booklets should begin to come down during the next revision in February 2024 if, of course, by the end of 2023, the inflation rate were to fall.