Euribor rates fell to three and six months this Friday and increased to 12 months, compared to Thursday.
The six-month Euribor rate, the most widely used in Portugal for home loans and which entered positive territory on June 6, fell to 2.693% this Friday, minus 0.033 points, compared to Thursday, the day it settled at 2.726%.
The six-month Euribor was negative for six years and seven months (between November 6, 2015 and June 3, 2022).
Within 12 months, the Euribor increased by 0.003 point to 3.291% compared to the previous postponement.
On Thursday, within a 12-month period, the Euribor broke its streak of eight consecutive gains by retreating 0.037 points from Wednesday to 3.288%, after hitting a new high on the eve since December 2008.
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 three-month Euribor, which entered positive territory on July 14 for the first time since April 2015, fell 0.052 points to 2.132% compared to the previous day, when it fell 0.018 points to 2.184%, after reaching and reaching 2.202% on Wednesday a new high since January 2009.
The three-month Euribor interest rate was negative between 21 April 2015 and 13 July 2015 (seven years and two months).
In terms of annual average, the three-month Euribor was 0.348%, the six-month Euribor was 0.682% and the 12-month Euribor was 1.000%.
The Euribor started to rise more sharply since February 4, after the European Central Bank (ECB) admitted that it may raise key interest rates this year due to the rise in inflation in the Eurozone and the trend was reinforced with the start of the Russian invasion of Ukraine on February 24.
At the last monetary policy meeting, on 15 December, the ECB raised key interest rates by 50 basis points, slowing the rate of increase from the two previously recorded rates, which stood at 75 basis points on 27 October and 27 October respectively. September 8.
On 21 July, the ECB raised the three main interest rates by 50 basis points for the first time in 11 years.
The three-, six- and 12-month Euribor rates recorded historic lows of -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021, respectively.
The Euribor rates are set at the average rate at which a group of 57 banks in the eurozone are willing to lend each other money on the interbank market.
Source: DN
