Euribor rates rose to three on Tuesday, at six and 12 months from Monday, the shortest time frame to a new high since February 2009.
The six-month Euribor rate, most used in Portugal for home loans and entering positive territory on June 6, rose that day to 2.338% plus 0.011 points. against the highest level since January 20092.342%, verified Nov. 18.
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).
A three-month Euribor that came into effect on 14 July. on a positive background for the first time since April 2015also rose today, settling at 1.863% plus 0.046 points, a new high since February 2009.
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 sense, over a 12-month period, Euribor rose on that day, settling at 2.847%, up 0.012 points from Monday, against 2.874% on November 9, a new high since January 2009.
Having risen on April 12 to 0.005%, positive for the first time since February 5, 2016The 12-month Euribor has been in positive territory since April 21st.
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 this trend intensified with the start of the Russian invasion of Ukraine on 24 February. On October 27, to curb inflation, the ECB raised three key interest rates by 75 basis points, the third consecutive increase this year, after raising three interest rates by 50 basis points on July 21. growth after 11 years, and on September 8 by 75 basis points.
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.