LANGUAGE FOR EXPERTISE: False Friends in French Economics

Looks familiar—but doesn’t mean what you think it does

When studying French, you often come across words that closely resemble their English counterparts.
The spelling is similar, the topic overlaps—so it’s easy to assume they mean the same thing.

But in fact, the meanings can be completely different.
The more fluent you are in English, the more likely you are to fall into this trap.

While reading articles on economics and finance in the past, I became curious about how certain terms are rendered in French. I looked them up, took notes. In this post, I’ve compiled those that are especially prone to confusion with similar-looking English terms.

　

PART 1. Common French Economic Terms That Often Cause Confusion

French Term (Misleading Form)	Correct English Meaning	Why It’s Confusing
“Obligations” doesn’t mean “duties”	Obligations (bonds)	Same spelling as obligations in English (duties/responsibilities), but in French, it’s a financial term referring to bonds.
“Actifs” doesn’t mean “active things”	Assets	Looks like active, but in accounting it means assets. (Compare with passifs = liabilities)
“Recettes” doesn’t mean “receipt”	Revenue	Similar to receipt in English, but it refers to total revenue or national income—not a payment slip.

　

PART 2. Essential Concepts in French Economic News

Taux d’intérêt (Interest Rate)

At its core, this term means interest rate,
but in news contexts, it often appears with qualifiers like taux fixe (fixed rate), taux variable (variable rate), and more.

Example:
La BCE a relevé son taux d’intérêt directeur.
(The European Central Bank raised its benchmark interest rate.)

　

Dette publique (Public Debt)

This refers to the total amount of debt held by the government.
In French news, it often appears as a percentage of GDP.

Example:
La dette publique dépasse 120 % du PIB.
(Public debt exceeds 120% of GDP.)
※ PIB = Produit Intérieur Brut (Gross Domestic Product)

　

Banque centrale (Central Bank)

The central bank is a key player in monetary policy,
appearing frequently in news headlines about rate hikes, pauses, or easing.

Example:
La banque centrale a décidé de maintenir ses taux.
(The central bank decided to keep interest rates unchanged.)

　

Marché obligataire / Marché boursier

These terms refer to the bond market and stock market, respectively.
They’re commonly used to describe broader market trends.

Examples:
Le marché obligataire est tendu.
→ The bond market is under pressure.

Le marché boursier a clôturé en baisse.
→ The stock market closed lower.

Even if a French word looks just like its English counterpart, its actual meaning and usage can be completely different—especially in economics.
This post rounds up some of the easiest-to-mix-up terms to help you read French financial news with more confidence.

　

　

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