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France 24
France 24
Business

French savers draw down their "Livret A" accounts amid rising inflation

BUSINESS DAILY © FRANCE 24

France's popular, government-regulated tax-free savings account scheme, known as the "Livret A", is likely to raise interest rates in February after recording the biggest deposit outflow since 2014.

Withdrawals exceeded deposits by almost €3 billion in October, as a historically low interest rates discouraged people from saving.

Rising inflation is the main concern for monetary policymakers across the globe. South Korea's central bank has decided to raise rates once again to 1%.

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