Euribor rates rose again this Tuesday to three, six and twelve months, extending the maximums since December 2008 for all maturities.
The six-month Euribor rate, which is most commonly used for home loans in Portugal and which surged on June 6, 2022, renewed its maximum since December 2008 by rising 0.029 points to 2.988%, from 2.959% on Monday.
The six-month Euribor average rose from 2.321% in November to 2.560% in December.
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 rose 0.045 point to 3.415%, from 3.368% in the previous session.
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 2.828% in November to 3.018% in December.
The three-month Euribor, which rose on July 14 for the first time since April 2015, rose by 0.030 point to 2.512% (maximum since December 2008), after stabilizing at 2.482% on Monday.
Between 21 April 2015 and 13 July 2015 (seven years and two months), the three-month Euribor rate was negative.
The three-month Euribor average increased from 1.825% in November to 2.063% in December.
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 were 75 basis points on 27 October and 8 September respectively.
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 reached an all-time low, respectively -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021.
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
