Latest news with #BankofFrance
Bloomberg
16-07-2025
- Business
- Bloomberg
Bank of France Recommends Cutting Regulated Savings Rate to 1.7%
France is set to cut the rate on its popular regulated savings products, following a recommendation from the central bank. The return on so-called Livret A and LDDS accounts should be lowered next month to 1.7% from 2.4%, Bank of France Governor Francois Villeroy de Galhau said in a statement on Wednesday.
The Star
14-07-2025
- Business
- The Star
Survey shows agri-food sector of France is worst hit by Trump tariffs
A farmer drives a tractor in Blecourt, France. — PASCAL ROSSIGNOL/Reuters Paris: France's agri-food industry is the sector hardest hit by the upheaval from US President Donald Trump's trade tariffs, a survey by the country's central bank shows. Business leaders in the agriculture and food processing sectors reported an average 2.6% negative impact on activity in their businesses from both the direct and indirect effects of levies, including uncertainty, possible retaliation and cheaper Chinese imports. French industries face high uncertainty in the coming weeks as the European Union (EU) has until Aug 1 to clinch a preliminary trade deal that would lock in a 10% across-the-board tariff while negotiators try to hammer out a permanent agreement. Without an accord, rates on nearly all EU exports to the US will jump to 50%. Officials from the European Commission, the EU's executive arm, are also trying to win concessions for particular sectors as part of a possible agreement. 'The policies of the Trump administration are of course disrupting the global economy, and incidentally Europe will have to reach a trade agreement with the United States,' Bank of France governor Francois Villeroy de Galhau said on RMC radio. 'But there are lots of things that depend on us Europeans and French people for our economic growth,' he added. The central bank said its monthly survey of 8,500 businesses confirmed the economy is set to grow about 0.1% in the second quarter, failing to accelerate from the weak pace set at the start of this year year. In addition to the volatile trade outlook, French businesses are reckoning with domestic political unpredictability as a minority government attempts to push through another round of spending cuts and tax increases. While activity picked up last month in industry and services, that followed a slow month in May when several public holidays disrupted output. Still, Villeroy said the Bank of France was maintaining its outlook for the whole of this year. 'We see slow but positive growth,' he said last Thursday. 'We are sticking with our 0.6% forecast – it's not enough in the long-term, and we need to take measures to strengthen the French and European economy.' — Bloomberg
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Business Standard
13-07-2025
- Business
- Business Standard
France's agriculture-food sector worst impacted by Trump tariffs
William Horobin France's agri-food industry is the sector hardest hit by the upheaval from Donald Trump's trade tariffs, a survey by the country's central bank showed. Business leaders in agriculture and food processing reported an average 2.6 per cent negative impact on activity from both the direct and indirect effects of levies, including uncertainty, possible retaliation and cheaper Chinese imports. French industries face high uncertainty in the coming weeks as the European Union has until Aug. 1 to clinch a preliminary trade deal that would lock in a 10 per cent across-the-board tariff while negotiators try to hammer out a permanent agreement. Without an accord, rates on nearly all EU exports to the US will jump to 50 per cent. Officials from the European Commission, the EU's executive arm, are also trying to win concessions for particular sectors as part of a possible agreement. 'The policies of the Trump administration are of course disrupting the global economy, and incidentally Europe will have to reach a trade agreement with the US,' Bank of France Governor Francois Villeroy de Galhau said on RMC radio. 'But there are lots of things that depend on us Europeans and French people for our economic growth.' The central bank said its monthly survey of 8,500 businesses confirmed the economy is set to grow about 0.1 per cent in the second quarter, failing to accelerate from the weak pace set at the start of the year. In addition to the volatile trade outlook, French businesses are reckoning with domestic political unpredictability as a minority government attempts to push through another round of spending cuts and tax increases. While activity picked up last month in industry and services, that followed a slow month in May when several public holidays disrupted output. Still, Villeroy said the Bank of France was maintaining its outlook for the whole of 2025. 'We see slow but positive growth,' he said on Thursday. 'We are sticking with our 0.6 per cent forecast — it's not enough in the long-term, and we need to take measures to strengthen the French and European economy.'
Reuters
09-07-2025
- Business
- Reuters
Bank of France estimates Q2 French economic growth of around 0.1%
PARIS, July 9 (Reuters) - The French economy grew by around 0.1% in the second quarter, the Bank of France said in its monthly economic outlook on Wednesday, adding that uncertainty over U.S. trade tariffs continued to weigh on businesses. The central bank's survey of about 8,500 companies showed a pick-up in business in the industrial and services sectors, although other areas such as the wine sector were more negatively impacted by the tariff uncertainty. "Our estimates suggest a slight rise of around 0.1% in GDP in the second quarter," the Bank of France said. Last month, Remy Cointreau ( opens new tab abandoned its 2030 sales growth targets, while in April Pernod Ricard's ( opens new tab sales missed forecasts, with both companies citing the unpredictability over tariffs as an issue. The Bank of France said recent spells of extremely hot weather had also impacted the bar and restaurant sectors, as the heatwave discouraged people from going out. Both the Bank of France and the country's INSEE national statistics agency have forecast overall growth of 0.6% for the whole of 2025.
Yahoo
09-07-2025
- Business
- Yahoo
Bank of France estimates Q2 French economic growth of around 0.1%
PARIS (Reuters) -The French economy grew by around 0.1% in the second quarter, the Bank of France said in its monthly economic outlook on Wednesday, adding that uncertainty over U.S. trade tariffs continued to weigh on businesses. The central bank's survey of about 8,500 companies showed a pick-up in business in the industrial and services sectors, although other areas such as the wine sector were more negatively impacted by the tariff uncertainty. "Our estimates suggest a slight rise of around 0.1% in GDP in the second quarter," the Bank of France said. Last month, Remy Cointreau abandoned its 2030 sales growth targets, while in April Pernod Ricard's sales missed forecasts, with both companies citing the unpredictability over tariffs as an issue. The Bank of France said recent spells of extremely hot weather had also impacted the bar and restaurant sectors, as the heatwave discouraged people from going out. Both the Bank of France and the country's INSEE national statistics agency have forecast overall growth of 0.6% for the whole of 2025. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
