Euribor rises to three, six, and 12 months

The 12-month Euribor rate, currently the most widely used in Portugal for variable-rate home loans, rose today to 4.116%, up 0.025 points from Tuesday, after rising to 4.193% on July 7, a new high since November 2008.

In the same sense, within six months, the price of Euribor, which entered the positive zone on July 7, 2022, rose today to 3.964%, up 0.021 points from the previous day, against the maximum since November 2008, 3.972%, verified in July. 21

The three-month Euribor rose 0.011 points today, compared to Tuesday, to 3.798%.

Euribor started to rise further from February 4, 2022, after the European Central Bank (ECB) admitted that it may raise key interest rates due to rising inflation in the Eurozone and the trend strengthened with the onset of Russia. Invasion of Ukraine on February 24, 2022.

At its last monetary policy meeting, held on July 27, the European Central Bank raised interest rates again, for the ninth consecutive session, by 25 basis points – as on June 15 and May 4 -, an increase of less than 50 basis points. On March 16th, February 2nd, and December 15th, when the pace of the increases began to slow.

Earlier, on October 27 and September 8, key interest rates rose by 75 basis points. On July 21, 2022, the European Central Bank, for the first time in 11 years, raised the three main interest rates by 50 basis points.

The next monetary policy meeting of the European Central Bank will be held on September 14th.

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 is fixed by averaging the rates at which a group of 57 banks in the eurozone are willing to lend money to each other in the interbank market.