July 13, 2017 / 2:30 PM / 2 months ago

France keeps regulated rate on savings accounts steady

FILE PHOTO - Detail of the facade of the Bank of France headquarters in Paris May 9, 2012. REUTERS/Charles Platiau

PARIS (Reuters) - The French Finance Ministry said on Thursday it was keeping the rate on popular tax-free savings accounts unchanged at a record low 0.75 percent following a recommendation from the central bank.

The rate on the so-called Livret A accounts, which have been at the same rate now for two years, are reviewed twice a year on recommendation from the central bank taking into account money market rates and inflation excluding tobacco prices.

Figures published earlier on Thursday showed inflation on that measure fell in June to 0.7 percent largely due to lower energy prices.

The rate on Livret A accounts are hugely popular with French savers and despite the currently low rate they offer 10 billion euros were put into them in the first half of the year, the Finance Ministry said.

Reporting by Leigh Thomas; editing by Michel Rose

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below