The Euribor rates rose this Friday to three, six and 12 months compared to Thursday, reaching new highs in all terms.
The six-month Euribor interest rate, the most used in Portugal for home loans and which entered positive territory on June 6, rose this Friday to 1.290%, 0.057 points more than the day before.
The average six-month Euribor in August rose to 0.837%, compared to 0.466% in July and 0.162% in June.
The six-month Euribor was negative for six years and seven months (between November 6, 2015 and June 3, 2022).
Within three months, the Euribor registered, for the 13th consecutive session, a new maximum, at 0.763%, 0.051 points more than on Thursday.
This rate entered positive territory on July 14, for 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 rose to 0.395% in August, compared to 0.037% in July and -0.239% in June.
In relation to the term of 12 months, the Euribor rose this Friday 0.045 points to 1.896%.
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.
The average 12-month Euribor rose to 1.249% in August, after the averages of 0.992% in July and 0.852% in June.
The Euribor began to increase more significantly from February 4after 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 raised all three official interest rates by 50 basis points, 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
