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HomeEconomyThe Euribor rate...

The Euribor rate has been reduced to three, six and 12 months.

The Euribor rate fell this Wednesday by three, six and 12 months compared to Tuesday.

The 12-month Euribor rate, which is currently the most used in Portugal for floating-rate home loans, fell this Wednesday to 4.051%, down 0.17 points from Tuesday, after hitting a new high since November on July 7 2008.

In six months, the Euribor rate, which entered positive territory on June 6, 2022, fell this Wednesday to 3.929%, minus 0.009 points from Tuesday, but still below the 3.987% recorded on June 31, the highest since November 2008.

In turn, the three-month Euribor fell by 0.007 points compared with the previous day, to 3.795%, against a maximum of 3.826% on August 23 this year.

More significantly, the Euribor began to rise from February 4, 2022, after the European Central Bank (ECB) admitted that it could raise key interest rates due to rising inflation in the eurozone, and this trend has intensified with the start of Russian economic growth. invasion of Ukraine on February 24, 2022.

At the latest monetary policy meeting on July 27, the ECB raised interest rates again, for the ninth consecutive session, by 25 basis points – just like on June 15 and May 4 – less than 50 basis points. points reached on March 16, February 2 and December 15, when the growth rate began to slow down.

Earlier, on October 27 and September 8, key rates rose by 75 basis points. On July 21, 2022, the ECB raised three key interest rates by 50 basis points for the first time in 11 years.

The next ECB monetary policy meeting will take place on 14 September.

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

Euribor rates are set at the level of the average rate at which a group of 19 eurozone banks are ready to lend to each other in the interbank market.

Author: Portuguese
Source: CM Jornal

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