“There will be a new increase in the Livret A on August 1 next,” said the governor on RTL, without however specifying the extent of this increase, which will be the second since the beginning of the year.

Since February 1, it has been set at 1%, against a floor of 0.5% previously.

The Livret A rate is calculated twice a year by taking the average between, on the one hand, the average inflation rate of the last six months and, on the other hand, the average of the interbank rates, at which the banks are exchange money in the short term.

However, inflation has accelerated sharply since the start of the year, reaching 5.2% in May, according to INSEE.

The Banque de France is responsible for sending the Ministry of the Economy a proposal for changing the rate according to this formula. Then it is up to the government to decide whether or not to give an extra boost to the result thus obtained.