French savings accounts Livret A have seen €120m outflows in June, according to figures published by the Caisse des Dépôts et des Consignations (CDC).
The French government has recently decided to trim Livret A’s rate to 0.75% from 1% as at 1st August 2015, following a recommendation of the Banque de France.
On the first half of 2015, outflows on Livret A have reached €2.45bn. March 2015 was the only month which has seen Livret A recording inflows.
The Livret de Développement Durable, another product managed by CDC whose rate will also be cut to 0.75%, has seen €20m new inflows in June.