Euribor rates rise in six and 12 months to new highs in nearly 14 years
Euribor rates fell today to three months and rose to six and 12 months to new highs since January 2009.
The six-month Euribor rate, most used in Portugal for home loans and entering positive territory on June 6, rose today to 2.569%, up 0.076 points and a new high since January 2009.
The six-month average Euribor rose from 1.997% in October to 2.321% in November.
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 today, settling at 2.993%, up 0.126 points from Thursday 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 2.629% in October to 2.828% in November.
On the other hand, the three-month Euribor, which entered positive territory for the first time since April 2015 on July 14, fell today, settling at 2.047%, minus 0.015 points, against a new high since February 2009 of 2.081%. , checked 14 December.
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.
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, 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 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.
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