Europe is closing in the red. Interest on Portuguese debt is at a three-month low – Markets in a Minute

Euribor prices reverse the trend and are down for three, six and 12 months

Today, Euribor prices are down three, six and 12 months compared to Tuesday, reversing the trend of recent sessions.

The six-month Euribor, the most used in Portugal for housing loans and which entered the positive zone on June 6, fell today to 2.442%, minus 0.001 points, against the new maximum since January 2009, 2.443%, verified on December 6.

The 6-month average Euribor increased from 1.997% in October to 2.321% in November.

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

The three-month Euribor index, which entered positive territory on July 14 for the first time since April 2015, also fell today, set at 1.977%, 0.016 points lower than Tuesday, the day it rose to 1.993%, a level New high since February 2009.

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

The 3-month average Euribor rose from 1.428% in October to 1.825% in November.

Within 12 months, the Euribor is also lower today, set at 2.864%, 0.006 points lower than on Tuesday, against 2.892% on November 28 and 29, the maximum since January 2009.

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 12-month Euribor average increased from 2.629% in October to 2.828% in November.

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.

On October 27, with the aim of curbing inflation, the European Central Bank raised the three main interest rates by 75 basis points, which is the third consecutive increase this year, after it raised the three interest rates by 50 basis points on July 21, which is the first. in 11 years, and on Sept. 8 by 75 basis points.

The evolution of Euribor interest rates is closely related to increases or decreases in the main interest rates of the European Central Bank.

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.

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