Euribor rates rose this Friday to new highs since early 2009 at three and six months and fell at 12 months.
The six-month Euribor rate, most used in Portugal for home loans and entering positive territory on June 6, rose this Friday to 2.374% plus 0.006 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).
The three-month Euribor, which entered positive territory for the first time since April 2015 on July 14, also rose today, setting a new high since February 2009 at 1.922% plus 0.014 points.
The three-month Euribor was negative from 21 April 2015 to 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.
On the other hand, in a 12-month period, Euribor fell this Friday, settling at 2.860%, down 0.019 points from Thursday, after climbing to a new high since January 2009, 2.879%, on Thursday.
After skyrocketing on April 12 to 0.005% for the first time since February 5, 2016. The 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 the trend accelerated with the start of the Invasion of Ukraine on February 24.
On October 27, in order to curb inflation, the ECB raised three key interest rates by 75 basis points. third consecutive increase this yearafter a 50 basis point increase in the three main interest rates on July 21, the first increase in 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 rates are set at the average rate at which a group of 57 eurozone banks are willing to lend money to each other in the interbank market.