Booklet A: The fall in its interest rate on August 1, 2025 is becoming clearer

The remuneration of your risk -free savings will be tumbled again on August 1. Inflation, in clear decline, leaves no doubt about it. Here is what your booklet A should bring you from this summer.

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Slowdown in inflation requires, the yield of your Livret A will still crumble on August 1, 2025. While INSEE published this final statistics on Tuesday, April 15, its final statistics concerning the price increase in March, at only 0.7% excluding tobacco, as in February, the interest rate of the favorite savings booklet of the French (56 million holders), set at 3% for 18 months then lowered to 2.4% on February 1, 2025 announced around July 15.

As a reminder, the Interest rate of booklet A is calculated every six months, February 1 and August 1. And this, by following a formula which takes into account on the one hand the average of the annual inflation observed over the last six months, that is between January 2025 and June 2025 for the actual revision on August 1, 2025. Another determining parameter: the average, over the same period, of interbank rates – to which banks are exchanged.

A consequence of the drop in inflation and the rates of the ECB

However, according to the last economic note of the Banque de France, the price increase Excluding tobacco should still be limited to 0.8% in April, to straighten slightly to 0.9% in May then 1% next June. And this, after inflation of 1.6% in January, then 0.7% in February and March. Or an average annual inflation of 0.95% in the first half of 2025.

As for interbank rates (€ STR), which are currently navigating around 2.42%, compared to almost 3% at the start of the year, they should also decrease in the wake of the European Central Bank. There ECB which must precisely announce a new monetary easing and a decline of 0.25 points on its three guiding rates. If such a decline is confirmed by the Frankfurt institution Thursday, April 17, the half -yearly average of interbank rates will be limited to 2.46%. Based on these very credible hypotheses, the rate of the booklet would tumble at 1.70% ((0.95+2.46) / 2).

Such a return, falling from 0.7 points compared to the 2.4% offered since February 1, 2025, would mark a lower since February 1, 2022. Above all, it would generate a shortfall for holders of a booklet filled on the ceiling (22,950 euros) of 160.65 euros in a full year. A relative loss that the Governor of the Banque de France could alleviate and the Minister of the Economy. Free to derogate from the calculation formula, François Villeroy de Galhau and Eric Lombard have however not activated this lever on February 1 last.