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Livret A rate stays at 1.25%

Already at a historic low, the savings account’s rate will not be further lowered next month

THE interest rate of the popular Livret A account will remain at 1.25% on February 1.

Finance Minister Pierre Moscovici said this morning he would not be lowering the rate, which would have dropped to just 0.75% if the usual formulas, based mainly on inflation, had been applied.

The rate is already at its lowest ever, having dropped from 1.75% in August last year.

Speaking on LCI and on Radio Classique today, Mr Moscovici said the government would not follow the Banque de France proposal of a drop to 1%.

“Taking account of the president and government’s concern for the public’s purchasing power, I will maintain the rate at 1.25%. That’s definitive,” he said.

There are around 63 million Livret A accounts. They are a tax-free account limited to one per person, adult or child and resident or non-resident. Insee figures show consumer prices rose 0.7% last year.

Photo: Unclesam www.fototlia.com

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