Euribor rates rose this Monday to three, six and 12 months from Friday, the two shortest times to new highs since early 2009.
The six-month Euribor rate, most commonly used in Portugal for home loans and entering positive territory on June 6, rose this Monday to 2.527% plus 0.061 points, a new high since January 2009.
The six-month average Euribor rose from 1.997% in October to 2.321% in November.
The six-month Euribor has been negative for six years and seven months (from November 6, 2015 to June 3, 2022).
The three-month Euribor, which entered positive territory on July 14 for the first time since April 2015, also rose this Monday as it was set at 2.052%, up 0.047 points from Friday and a new high since February 2009.
The three-month Euribor was negative between 21 April 2015 and 13 July last year (seven years and two months).
The three-month average Euribor rose from 1.428% in October to 1.825% in November.
Within 12 months, Euribor also rose this Monday, as it was set at 2.880%, up 0.019 points from Friday, versus 2.892% on November 28 and 29, the highest since January 2009.
After rising to 0.005% on April 12, positive for the first time since February 5, 2016, the 12-month Euribor has been in positive territory since April 21.
The average Euribor rate for 12 months increased from 2.629% in October to 2.828% in November.
Euribor began to rise more significantly from February 4, after the European Central Bank (ECB) acknowledged that it could raise key interest rates this year due to rising inflation in the eurozone, and the trend accelerated with the onset of the Russian crisis. Invasion of Ukraine on February 24th.
On October 27, to curb inflation, the ECB raised three key interest rates by 75 basis points, the third consecutive increase this year, after raising three interest rates by 50 basis points on July 21. growth after 11 years, and on September 8 by 75 basis points.
Changes in Euribor interest rates are closely linked to increases or decreases in ECB key interest rates.
Three-, six- and 12-month Euribor rates hit record lows respectively: -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021.
Euribor is set on the basis of the average rate at which a group of 57 Eurozone banks are willing to lend money to each other in the interbank market.
Author: Portuguese
Source: CM Jornal
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