Booklet A: Here is its future probable interest rate on August 1, 2025

The yield of the favorite savings book of the French, lowered from 3% to 2.4% on February 1, 2025, is expected to dive again this summer, under the effect of the slowdown in inflation and the rate decreases of the European Central Bank.

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Another bad news in sight for the 82% of French people who have a Livret A. Decreased by 3% to 2.4% on February 1, 2025, after 18 months of frost, the remuneration of their savings product will continue to erode on August 1. Provisional inflation published this Friday, March 28 by INSEE, 0.8% over a year in March, leaves no doubt about it. Because as a reminder, the interest rate of booklet A is revised every February 1 and August 1 according to a calculation formula based for half on the annual increase in prices excluding tobacco observed over the previous six months. It is therefore inflation over the period January 2025 – July 2025 which will be taken into account to set the new rate of booklet A on August 1. However, after a 1.6% rebound in January, the price increase in tobacco has remained 0.7% in February and then 0.8% in March. INSEE and the Banque de France tabling on a Inflation close to 1% in June Next, the average on the current semester should also fall to 1%.

A new decrease of 0.7 point of return to be expected

Another element of the equation to be taken into account: interbank rates (to which banks are exchanged from money), which also weigh in the formula for calculating the rate of booklet A. Still at 2.92% on January 1, 2025, they fell in the wake of the rates of the European Central Bank (ECB), lowered by 0.25 point on February 5 and then March 12. The Frankfurt Institution still having to decide on its monetary policy on April 17 and June 6, a new decrease of 0.25 points from the key rates is anything but excluded. If it occurs in April, the half -yearly average of interbank rates could then land at 2.46%. Result: the yield of booklet A, which is none other than the average of inflation and interbank rates in the first half of 2025, would fall to 1.70% on August 1.

If this scenario materializes, savers must expect a 0.7 point yield declineafter a first drop of 0.6 points in February. Only hope: a possible boost from the governor of the Banque de France, François Villeroy de Galhau, and Bercy, who have the ability to derogate from the calculation formula. A lever which was unfortunately not activated at the start of the year for the Livret A. unlike the popular savings book (THE P), whose remuneration had been maintained at 3.5% on February 1, while a strict application of the calculation formula would have dropped it to 2.9%.