Euribor rates rise at three and six months to new 14-year highs

Euribor rates rose today at three, six and 12 months, in the two shortest terms to new highs since January 2009, compared to Monday.

The six-month Euribor ratethe most used in Portugal in housing loans and which entered positive territory on June 6, advanced today to 2.922%, plus 0.005 points and a new high since January 2009.

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).

The three-month Euriborwhich entered positive territory on July 14 for the first time since April 2015, also rose today as it settled at 2.501%, plus 0.052 points and a new high since January 2009.

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

The three-month Euribor average rose from 1.825% in November to 2.063% in December.

In the same sense, within 12 months, the Euribor advanced today, being set at 3.353%, plus 0.008 points, against 3.370% on January 11, a maximum 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 12-month Euribor average increased from 2.828% in November to 3.018% in December.

Euribor started to rise since February 4, 2022

The Euribor began to rise more significantly since February 4th, after the European Central Bank (ECB) admitted that it could raise the main interest rates this year due to the increase in inflation in the euro zone and the trend was reinforced with the beginning of Russia’s invasion of Ukraine on February 24.

At the last monetary policy meeting, on December 15, the ECB increased the key interest rates by 50 basis points, thus slowing the pace of increases in relation to the two previously recorded, which were 75 basis points, respectively, on October 27 and on September 8th.

On July 21, the ECB raised the three key interest rates by 50 basis points for the first time in 11 years.

The three-, six- and 12-month Euribor rates registered all-time lows, respectively, -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021.

The Euribor are fixed by the average of the rates at which a group of 57 banks in the eurozone are willing to lend money to each other in the interbank market.

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Deborah Acker

I write epic fantasy; self-published via KDP. Devoted dog mom to my 10 yr old GSD, Shadow! DM not a priority; slow response at best #amwriting #author.

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