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The price of Euribor in the third and sixth month reached new highs

Today Euribor prices rose to three and six months to new highs in a row since February 2011 and February 2009 and fell to 12 months.

The six-month Euribor rate, the most used in Portugal for housing loans and which entered the positive territory on June 6, rose today to 2.132%, rising by 0.025 points and a new maximum since February 2009.

The six-month Euribor average rose from 0.837% in August to 1.596% in September.

The six-month Euribor was 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 advanced today, having been set at 1.558%, up 0.015 points from Friday and a new high since November 2015. 2011.

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

The three-month Euribor average rose from 0.395% in August to 1.011% in September.

On the other hand, in 12 months, the Euribor index fell today, when it was set at 2.738%, minus 0.040 points, after rising on Friday to 2.778%, the new maximum since December 2008.

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

The 12-month Euribor average rose from 1.249% in August to 2.233% in September.

Euribor began to rise further since February 4, after the European Central Bank (ECB) admitted that it may raise key interest rates this year due to high inflation in the euro area and this trend was reinforced with the beginning of the Russian invasion of Ukraine on February 24.

On September 8, the European Central Bank raised the three key interest rates by 75 basis points, the second consecutive increase this year, because on July 21, it raised the three key interest rates by 50 basis points, the first rise in 11 years, with the aim of curbing Curb inflation.

At the end of the last meeting, European Central Bank President Christine Lagarde said the historic 75 basis point hike in interest rates was not the “norm,” but stressed that the assessment would meet each meeting. Next Thursday.

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

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

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