Euribor rates fall to three and six months and go up to 12 months

Euribor prices are down today to three and six months and up to 12 months, compared to Thursday.

The six-month Euribor, the most used in Portugal for housing loans and which entered the positive zone on June 6, today fell to 2.693%, minus 0.033 points, compared to Thursday, the day set at 2.726%.

The six-month Euribor has been negative for six years and seven months (between November 6, 2015, and June 3, 2022).

Within 12 months, the Euribor rose by 0.003 points to 3.291% compared to the previous hold.

On Thursday, during a period of 12 months, Euribor broke the chain of eight consecutive increases, down 0.037 points compared to Wednesday, to 3.288%, after reaching a new maximum since December 2008 eve.

After rising to 0.005% on April 12, for the first time positive since February 5, 2016, the 12-month Euribor has been in positive territory since April 21.

The three-month Euribor index, which entered the positive zone on July 14 for the first time since April 2015, decreased by 0.052 points to 2.132% compared to the previous day when it fell by 0.018 points, and settled at 2.184%, after reaching 2.202% on Wednesday. It reached a new high since January 2009.

The three-month Euribor was negative between April 21, 2015, and last July 13 (seven years and two months).

In terms of the annual average, the three-month Euribor stood at 0.348%, the six-month Euribor at 0.682% and the 12-month Euribor at 1.000%.

Euribor has been rising further since February 4th, after the European Central Bank (ECB) admitted that it may raise key interest rates this year due to rising inflation in the Eurozone and the trend strengthened with the onset of Russia. Invasion of Ukraine on 24 February.

At its last monetary policy meeting, on December 15, the European Central Bank raised key interest rates by 50 basis points, slowing the pace of increases in relation to the two previously recorded, which were 75 basis points, respectively, on October 27 and on September 8. .

On July 21, the European Central Bank raised the three main interest rates by 50 basis points for the first time in 11 years.

Three, six and 12-month Euribor prices hit all-time lows, respectively, -0.605% on December 14, 2021, and -0.554% and -0.518% on December 20, 2021.

Euribor rates are determined on the basis of the average rate at which a group of 57 banks in the eurozone are willing to lend money to each other in the interbank market.

Portuguese