Euribor reaches new highs in three and six months
Euribor rates rose today to three and six months to new highs respectively since February 2011 and February 2009 and fell to 12 months.
The six-month Euribor rate, most commonly used in Portugal for home loans and entering positive territory on June 6, rose to 2.132% today, rising 0.025 points to a new high since February 2009.
The six-month average Euribor rose from 0.837% in August to 1.596% in September.
The six-month Euribor has been negative for six years and seven months (from November 6, 2015 to June 3, 2022).
The 3-month Euribor, which entered positive territory for the first time since April 2015 on July 14, also rose today, settling at 1.558%, up 0.015 points from Friday and a new high since November 2015 2011.
The three-month Euribor was negative between April 21, 2015 and July 13, 2015 (seven years and two months).
The three-month average Euribor rose from 0.395% in August to 1.011% in September.
On the other hand, within 12 months, Euribor fell today when it was set at 2.738%, minus 0.040 points, after rising to 2.778% on Friday, a new high since December 2008.
After soaring 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 1.249% in August to 2.233% in September.
Euribor began to rise more significantly since February 4, after the European Central Bank (ECB) acknowledged that it may raise key interest rates this year due to rising inflation in the eurozone, a trend that has accelerated with the start of Russia’s invasion of Ukraine. 24 February.
On September 8, the ECB raised three key interest rates by 75 basis points, the second consecutive increase this year, as it raised three key interest rates by 50 basis points on July 21, for the first time in 11 years. the purpose of curbing inflation.
At the end of the last meeting, ECB President Christine Lagarde said that a historic 75 basis point hike in interest rates was not “the norm”, but stressed that the evaluation would be carried out from meeting to meeting. Next one is Thursday.
Changes in Euribor interest rates are closely linked to increases or decreases in ECB key interest rates.
Three-, six- and 12-month Euribor rates were the lowest ever, 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.
