Economy
Euribor rises sharply after ECB warning of ‘significant’ rate hike | Fees
The European Central Bank (ECB) softened its interest rate hike, but dramatized the speech about “significant” further growth in the near future and the immediate consequence was a “jump” in the longer terms of the Euribor, which is associated with most household mortgages. A larger increase in interest rates should “force” more families to ask for contract renegotiations to reduce installments.
In this Friday’s session, the 12-month rate rose 0.126 points to 2.993%, very close to 3% and a new high since January 2009. The six-month rate also rose another 0.076 points to 2.569%, a nearly 14-year high.
Only the three-month Euribor, which has risen the most in recent weeks, has eased slightly (0.015 points), to 2.047%, after setting a new high since February 2009 two days ago in recent weeks, and should narrow the gap to a longer term pretty fast.
Confirmation that a slight correction in the three-month Euribor does not matter is the behavior of the futures market, where shortly after the statement by ECB President Christine Lagarde, an upward movement immediately took place.
This financial instrument does not directly apply to housing contracts, but anticipates an expected evolution, with the March 2023 contract hitting 2.995% early this Friday morning, with the June contract already above 3.3%. Two days ago, it was expected that the three-month Euribor, the only one for which this financial instrument exists, did not reach 3% during 2023although it was very close to this value.
Housing contracts use the average monthly Euribor rate, which is set in the interbank market based on the rates at which a group of banks can lend money to each other. And these rates follow very closely, currently higher, the decisions of the ECB.
A more pronounced increase in Euribor rates will complicate the provision of housing loans in the coming months as they are reviewed and make it even more difficult to access new loans for this purpose.
Contracts that will be renegotiated in the coming months, and especially those linked to the 12-month Euribor rate, will increase dramatically. This is due to the fact that the latest revisions were still made with negative rates.
A higher-than-expected rise in Euribor rates, which accounts for about 90% of existing mortgages in Portugal, could lead to more families requiring contract renegotiations in line with Non-Compliance Action Plan (PARI)which has been recently improved, or capital repayment if you have savings.
As expected, the rise in base rates was by 0.5 percentage points, down from 0.75 percentage points in September and October, but the discourse on inflation worries was much tougher.
“Not only are we going to raise interest rates even more, but we also decided today that they will still have to rise significantly and regularly,” Christine Lagarde said, acknowledging that they could “raise interest rates at a rate of 0.5 percentage points.” “. [em cada reunião] for a long time.”
The ECB’s refinancing rate (the rate at which it provides liquidity to commercial banks) is now 2.5% and the deposit interest rate (the rate at which banks repay deposits with the ECB) is 2%.
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Economy
Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners
OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.
“The Centodieci combines all the values of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.
This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.
This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.
Recall that each unit costs the owners eight million euros before taxes.
Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.
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Economy
The first Dacia hybrid. “The cheapest hybrid family on the market”
BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.
The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.
The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”
Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.
Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.
Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.
Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…
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Economy
See how Tesla tests its electric Semi truck in the worst-case scenarios
Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.
Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.
Tesla Semi is already on the market
Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.
To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.
Tests to prove its durability
It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.
This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.
high quality electric truck
Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.
Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.
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