French “Livret A” bank savings rate could be doubled in August – Villeroy

PARIS (Reuters) – France’s Livret A financial institution financial savings fee – held by hundreds of thousands of shoppers throughout the nation – could also be raised from 1% to 2% in August, the second rise of the 12 months amidst a hovering inflation, Financial institution of France Governor François Villeroy de Galhau mentioned.

Requested in an interview with franceinfo radio on Wednesday whether or not a report of such a hike in Les Echos enterprise day by day was correct, Villeroy responded: “the determine you cite may be very attainable.”

That fee had been raised from 0.5% to 1% initially of the 12 months. Final month, French inflation climbed farther from the earlier month to a document excessive of 6.5%.

(Reporting by Benoit Van Overstraeten; Enhancing by Richard Lough)