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Euribor and three months rise to a new 13-plus year high

Euribor prices rose today by three, six and 12 months compared to Monday, in the shortest duration of a new maximum since February 2009.

The six-month Euribor rate, which is the most used in Portugal for housing loans and which entered the positive zone on June 6, rose today to 2.338%, plus 0.011 points, against the maximum since January 2009, which is 2.342%, verified on November 18 .

The 6-month average Euribor increased from 1.596% in September to 1.997% in October.

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 also rose, which entered positive territory on July 14 for the first time since April 2015, set at 1.863%, plus 0.046 points, a 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 1.011% in September to 1.428% in October.

In a similar sense, in a 12-month period, Euribor advanced today, set at 2.847%, up 0.012 points from Monday, against 2.874% on November 9, the new 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 average Euribor rose from 2.233% in September to 2.629% in October.

Euribor has been rising further since February 4, 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.

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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.