The Governor of the Banque de France, François Villeroy de Galhau, proposed on Friday that the Livret A rate be raised to 3% on February 1, and recommended that the interest rate on the Livret d'épargne populaire (LEP) be raised to 6.1%.

The interest rate on the Livret A, whose calculation formula is based on the inflation rate, had fallen from an all-time low of 0.5% to 1% on February 1, 2022, before doubling again to 2% on August 1.

The LEP, reserved for those in the lowest income brackets, currently pays 4.6%.

Economy and Finance Minister Bruno Le Maire is about to announce the government's final decision on raising these rates.

(Written by Blandine Hénault, edited by Kate Entringer)