The three, six and 12-month Euribor interest rates reversed the upward trend of the last sessions on Monday, after having reached their highest since May 2020, September 2014 and August 2012, respectively.
The six-month Euribor, the most used in Portugal in mortgage loans and which entered positive territory on June 6, fell this Monday to 0.273%, minus 0.018 points and against 0.291% on Friday, maximum since September 2014.
The six-month Euribor was negative for six years and seven months (between November 6, 2015 and June 3, 2022).
The 12-month Euribor also fell this Monday, for the first time since May 27, when fixed at 1.091%minus 0.033 points and against 1.124% on Friday, the highest since August 2012.
After shooting up 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.
Along the same lines, within three months, the Euribor fell this Monday, as it was fixed at -0.178%0.009 points less than in the previous session and compared to -0.169% on Friday, the maximum since May 2020.
The Euribor began to rise more significantly since February 4, after the European Central Bank (ECB) admitted that it could raise official interest rates this year due to the increase in inflation in the eurozone and the trend was reinforced with the start of the Russian invasion of Ukraine on February 24.
The evolution of Euribor interest rates is closely linked to the increases or decreases in key ECB interest rates.
The three, six and twelve month Euribor interest rates entered negative territory on April 21, 2015, November 6, 2015 and February 5, 2016, respectively.
The Euribor at three, six and 12 months registered its lowest level, respectively, of -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021.
The Euribor is set 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.
Source: Observadora
