The Euribor rates rose this Monday to three, six and 12 months compared to Friday, reaching new highs.
The six-month Euribor interest rate, the most used in Portugal for home loans and which entered positive territory on June 6, rose to 1.077%, 0.094 points more than on Friday.
The six-month Euribor went from 0.162% in June to 0.466% in July.
The six-month Euribor was negative for six years and seven months (between November 6, 2015 and June 3, 2022).
The term of three months registered, for the ninth consecutive session, a new maximum, at 0.542%, 0.040 points more than 0.542% on Friday.
This rate entered positive ground on july 14for the first time since April 2015.
The three-month Euribor was negative between April 21, 2015 and July 13, 2015 (seven years and two months).
The three-month Euribor went from -0.239% in June to 0.037% in July.
In relation to the 12-month period, the Euribor rose 0.130 points to 1,612%compared to 1.482% on Friday.
After rising to 0.005% on April 12, for the first time since February 5, 2016, the 12-month Euribor has been in positive territory since April 21.
The average 12-month Euribor went from 0.852% in June to 0.992% in July.
The Euribor began to rise more significantly since 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 was reinforced by the start of the Russian invasion of Ukraine on February 24.
At the monetary policy meeting held on July 21, the ECB increased by 50 basis points the three key interest rates, the first increase in 11 years, with the aim of curbing inflation.
The ECB also indicated that in the next meetings it will continue to raise interest rates.
The evolution of the Euribor interest rates is closely linked to the increases or decreases in the official interest rates of the ECB.
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
