The Euribor rate will increase to 12 months at the beginning of 2024, fall to three and remain at six

On Tuesday, the 12-month Euribor rate rose, remaining at six and falling to three, opening the year in mixed signs.

Thus, on Tuesday, Euribor was set at 3.905% for three months, which is 0.004 points less than on Friday, since they were not traded on Monday.

For six months, the Euribor rate remained at 3.861%, and for 12 months there was an increase of 0.019 points compared to the last business day of 2023.

The average Euribor index in December fell 0.037 points to 3.935% in three months (compared to 3.972% in November), 0.138 points to 3.927% in six months (compared to 4.065%) and 0.343 points to 3.679% in 12 months (up from 4,022). %).

According to BdP data for October 2023, 12-month Euribor represented 37.8% of total floating rate permanent homeownership loans. The same data shows that the six- and three-month Euribor rates were 35.9% and 23.6% respectively.

More significantly, the Euribor began to rise on February 4, 2022, after the ECB acknowledged that it might raise key interest rates due to rising inflation in the eurozone, a trend that accelerated with the start of Russia’s invasion of Ukraine in February. 24, 2022.

At the latest monetary policy meeting, the ECB maintained base interest rates for the second (consecutive) time since July 21, 2022.

The ECB’s next monetary policy meeting, which will be the first in 2024, will take place on January 25.

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 as the average rate at which a group of 19 eurozone banks are willing to lend to each other in the interbank market.