The Banque de France has made the news official: the Livret A rate will not be increased until next February despite galloping inflation and rising energy costs. However, the rates of return available today for our cryptocurrencies are not more attractive or particularly difficult to find.
An increase in the booklet A planned for February 2023
In a context of galloping inflation and with the onset of a winter that promises to be difficult due to recent increases in energy prices, the Banque de France has decided to wait until next February to increase the Livret A rate to 3%.
Thus, the 55 million French citizens using the livret A will have to be patient before seeing their investments in this form of savings take on additional value.
A decision that could come as a surprise, since the Banque de France nevertheless had the opportunity to review this rate upwards from November. Indeed, since an order dated January 2021, the governor of the central bank has been able to propose a revision of the rates to the minister in charge of the economy during this time of year if he thinks it can help offset inflation.
And yet, according to a spokesperson for the Banque de France, the French will not be able to see this rate revised upwards soon, in particular because of the revaluation of the latter 2 months ago :
“There will be no exceptional increase in the passbook A rate in November, any more than there was last May. The revaluation on August 1 was significant, even more so on the People’s Savings Account. »
A second reason invoked would be to encourage French households to consume, and not to encourage them to save. We also remember that when the passbook A rate was raised on August 1, the savers concerned placed more than 4.49 billion euros in their savings account over the month.
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However, this rate of 3%, although it will take a little while, remains higher than most rates currently offered in decentralized finance (DeFi). Indeed, even the most recognized DeFi protocols in the ecosystem are currently showing very low rates.
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The cryptocurrency market being highly correlated to the traditional financial market and its share of uncertainties, it is becoming more and more difficult to find yield solutions that are both safe and attractive. Some projects are still little known to the general public, and sometimes some cryptocurrency investment strategies may prove disconcerting because of the manipulations to be carried out.
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Source: Le Parisien
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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