This Wednesday Euribor rose again to three, six and 12 months, hitting new highs since January 2009 for the two shorter terms and from December 2008 for the longer terms.
The six-month Euribor rate, most commonly used in Portugal for home loans and entering positive territory on June 6, rose for the eighth straight session to 2.752%, plus 0.049 points and a new high since January 2009.
The six-month average Euribor rose from 1.997% in October to 2.321% in November, while the average for the current month was 2.545%.
The six-month Euribor has been negative for six years and seven months (from November 6, 2015 to June 3, 2022).
Within 12 months, Euribor also rose for the eighth session in a row, dropping byfixed at 3.325%, up 0.060 points from Tuesday and a new high since December 2008.
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 2.629% in October to 2.828% in November. This month it is 2.990%.
The three-month Euribor, which entered positive territory for the first time since April 2015 on July 14, advanced 0.074 points, fixing at 2.202%reaching a new high since January 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 1.428% in October to 1.825% in November. In December, the average is 2.054%.
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 has accelerated with the start of the Invasion of Ukraine on February 24.
At the last meeting on monetary policy on December 15 The ECB raised key interest rates by 50 basis points.thereby slowing down the rate of increase from the two previously recorded 75 basis points on October 27 and September 8, respectively.
On July 21, the ECB raised three key interest rates by 50 basis points for the first time in 11 years.
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.