Economy

no boost in November despite surge in inflation



Inflation may well settle permanently, the passbook A rate will give it a break. After going from 1 to 2% last August, it will not move in November, assures the Banque de France on Monday October 3, confirming information from the Parisian.

If the rate of the preferred placement of the French is usually reassessed twice a year (in February and August), the texts leave the possibility for the Banque de France to intervene between these two deadlines. It can make recommendations for changes to the government, on April 15 and October 15, if it judges that the situation justifies proceeding with a reduction or an increase at the beginning of the following month.

Next increase in February

For the October deadline, this will not be the case. Despite inflation that has exceeded 5% for several months (5.6% in September), the Banque de France believes that it is more prudent to wait. The institution puts forward two factors that justify its decision not to touch the rate. First, it recalls that the ability to raise the rate in November has never been used. She then points out that the rate has already recorded “a significant increase in August” and that it will be applied “a new increase next February”.

This announcement comes as the booklet A displays an insolent form, boosted by the doubling of the rate. The preferred investment of the French (nearly 55 million savers have one) recorded the best month of August in its history. Its outstanding amount thus increased by 4.5 billion euros, three times more than in August 2021. In total, the savings of the French accumulated on the savings account A exceeds 360 billion euros.



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