The Euribor rate rose today to three, six and twelve months compared to Tuesday and reached new highs.
The six-month Euribor rate, which is most commonly used for home loans in Portugal and turned positive on June 6, rose today to 1.203%, 0.010 points more than the day before.
The six-month Euribor average rose to 0.837% in August, from 0.466% in July and 0.162% in June.
The six-month Euribor was negative for six years and seven months (between November 6, 2015 and June 3, 2022).
The three-month term registered a new maximum for the 11th consecutive session, at 0.654%, 0.034 points more than the 0.620% on Tuesday.
This price came in positive on 14 July for the first time since April 2015.
The three-month Euribor was negative between 21 April 2015 and 13 July 2015 (seven years and two months).
The three-month Euribor average rose to 0.395% in August, from 0.037% in July and -0.239% in June.
In terms of 12-month maturity, Euribor rose 0.020 points to 1.778% today, from 1.758% on Tuesday.
After rising to 0.005% on April 12, the first positive since February 5, 2016, the 12-month Euribor has been in positive territory since April 21.
The 12-month Euribor average rose to 1.249% in August, after averages of 0.992% in July and 0.852% in June.
The Euribor started rising sharply since February 4, after the European Central Bank (ECB) admitted it could raise key interest rates this year due to rising inflation in the eurozone and the trend was reinforced with the onset of the Russian invasion of Ukraine. on February 24.
At its July 21 monetary policy meeting, the ECB raised the three main interest rates by 50 basis points, the first increase in 11 years, with the aim of curbing inflation.
The ECB also indicated that it will continue to raise interest rates in subsequent meetings.
The evolution of Euribor interest rates is closely related to increases or decreases in the key ECB interest rates.
The three-, six- and twelve-month Euribor rates recorded their all-time lows, at -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021, respectively.
Euribor is determined by the average of the rates at which a group of 57 banks in the eurozone are willing to lend each other money on the interbank market.
Source: DN
