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Euribor reduced to three, six and 12 months

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The evolution of Euribor interest rates is closely related to the increase or decrease in the key interest rates of the ECB.

The evolution of Euribor interest rates is closely related to the increase or decrease in the key interest rates of the ECB.

Euribor rates fell this Monday to three, six and 12 months after two shorter maturities rose on Friday to their highest since February and January 2009 respectively.

The six-month Euribor rate most commonly used in Portugal for home loans, which hit positive territory on June 6, decreased to 2.327%, minus 0.015 pointsagainst the high since January 2009 of 2.342%, confirmed on Friday.

The six-month average Euribor rose from 1.596% in September to 1.997% in October.

The six-month Euribor has been negative for six years and seven months. (from November 6, 2015 to June 3, 2022).

The three-month Euribor, which entered positive territory for the first time since April 2015 on July 14, also fell as fixed at 1.817%, minus 0.004 pointsagainst the maximum since February 2009 of 1.821%, also registered on November 18.

The three-month Euribor was negative between 21 April 2015 and 13 July last year (seven years and two months).

The three-month average Euribor rose from 1.011% in September to 1.428% in October.🇧🇷

In the same 12-month sense, the Euribor fell on Monday, settling at 2.835%, down 0.002 points from Friday, against 2.874% on November 9, a new high since January 2009.

After soaring to 0.005% on April 12 for the first time since February 5, 2016, the 12-month Euribor is in positive territory. positive background since April 21🇧🇷

The average Euribor rate for 12 months increased from 2.233% in September to 2.629% in October.

Euribor began to rise more significantly from February 4, after the European Central Bank (ECB) admitted that it could raise key interest rates this year due to rising inflation in the eurozone, and the trend accelerated with the start of the Invasion of Ukraine on February 24. October 27 in order to curb inflation The ECB raised three key interest rates by 75 basis points.the third consecutive increase this year, following a 50 basis point increase in the three main interest rates on July 21, the first increase in 11 years, and a 75 basis point increase on September 8.

Changes in Euribor interest rates are closely linked to increases or decreases in ECB key interest rates.

Three-, six- and 12-month Euribor rates hit record lows respectively: -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021.

Euribor is set on the basis of the average rate at which a group of 57 Eurozone banks are willing to lend money to each other in the interbank market.

Source: Observador

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