all about the increase in the passbook A rate announced for February 2023

The livret A remains the preferred investment of the French. Good news, its rate will increase in February 2023, as indicated by the Governor of the Banque de France, François Villeroy de Galhau.

“On the Livret A rate, there is a formula that combines interest rates and inflation rates, so there have already been two increases this year. We went from 0.5% to 2%. There will be a new increase in early February, which will be calculated in mid-January,” explained the Governor of the Banque de France, Friday, December 9, at the microphone of France info.

Inflation and war in Ukraine

According to expert estimates, the rate of the booklet A should reach 3% at that time, or even 3.2% for the most optimistic. It was only 0.5% at the start of the year, before doubling to 1% last February. It had experienced a second increase in August, rising to 2%.

This new rise in the interest rate of the livret A is explained by inflation, due to the consequences of the war in Ukraine. However, the increase in this rate remains insufficient to offset the rise in prices, which reached 6.2% over one year in November.

To calculate the Livret A rate, the Banque de France takes the average of the average inflation rate for the last six months and the average interbank rate. These govern the exchange of short-term money between banks in the euro zone.

Increases in PEL and LEP

The remuneration of the sustainable and solidarity development booklet (LDDS) which follows the booklet A should also increase, probably around 3%. The popular savings account (LEP) rate could exceed 6%.

At present, 7 million people hold an LEP, open subject to means testing and limited to €7,700.

For its part, the Ministry of Economy and Finance announced Thursday, December 8 that the housing savings plan (PEL) would see its rate of remuneration drop from 1 to 2% on January 1, 2023. “This is the first increase in the PEL rate for twenty-two years, the last dating back to the year 2000”, notes the government.


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