Euribor rates rose this Thursday to three and six months, the shortest new high since January 2009, and fell to 12 months from Wednesday.
The six-month Euribor rate, most used in Portugal for home loans and entering positive territory on June 6, rose this Thursday to 2.857%, up 0.025 points from 2.878% on January 17, the highest since January 2009.
The six-month average Euribor rose from 2.321% in November to 2.560% in December.
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 for the first time since April 2015 on July 14, rose this Thursday to 2.393%, plus 0.051 points and a new high since January 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 1.825% in November to 2.063% in December.
On the other hand, in 12 months, Euribor fell this Thursday when it was set at 3.300%, minus 0.011 points, from 3.370% on January 11, the highest since December 2008.
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 2.828% in November to 3.018% in December.
Euribor began to rise more significantly from February 4, after the European Central Bank (ECB) admitted that it could raise key interest rates this year due to rising inflation in the eurozone, and the trend accelerated with the start of the Invasion of Ukraine on February 24.
At its most recent monetary policy meeting on 15 December, the ECB raised key interest rates by 50 bps, slowing down the rate of increase from the two previously recorded 75 bps on 27 October and 8 September, respectively.
On July 21, the ECB raised three key interest rates by 50 basis points for the first time in 11 years.
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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