Euribor rates rose this Thursday to new highs since early 2009 in three, six and 12 months.
Six-month Euribor rate, most commonly used in Portugal in mortgages and which entered positive territory on June 6, rose on that day by 2.368% plus 0.008 points, the highest since January 2009.
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 1.908% plus 0.010 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 that day, fixing at 2.879%, up 0.025 points from Wednesday and a new high since January 2009.
After rising to 0.005% on April 12, positive for the first time since February 5, 2016, the 12-month Euribor has been in positive territory 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 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.