The Euribor rates continued this Wednesday rising to three, six and 12 months to new maximums in more than 10 years.
The six-month Euribor interest rate, the most used in Portugal for housing loans and which entered positive territory on June 6, advanced this Wednesday, at 1.548%, plus 0.010 points that on Tuesday and in a new high since January 2012.
Euribor in maximums of more than 10 years in terms of three, six and 12 months
The six-month Euribor rose from 0.466% in july to 0.837% in August.
The six-month Euribor was negative for six years and seven months (between November 6, 2015 and June 3, 2022).
Along the same lines, the three-month Euribor, which became positive on July 14 for the first time since April 2015, rose this Wednesday, when it was set at 1,013%the majority 0.013 points and a new high since January 2012.
The three-month Euribor was negative between April 21, 2015 and July 13, 2015 (seven years and two months).
The three-month Euribor rose from 0.037% in july to 0.395% in August.
Within 12 months, the Euribor also advanced this Wednesday, since it was set at 2,156%plus 0.054 points and a new high since August 2011.
After shooting on April 12 at 0.005%Positive for the first time since February 5, 2016, the 12-month Euribor has been in positive territory since April 21.
The 12-month Euribor went from 0.992% in July to 1,249% in August.
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 rising inflation in the eurozone and the trend was reinforced with the start of the Russian invasion of Ukraine on February 24.
The 12-month Euribor exceeds 2% for the first time since 2011, after the ECB rate hikes
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.
On Thursday, September 8, the ECB decided to raise its three key interest rates by 75 basis points, the second consecutive hike this year.
At the end of the meeting, ECB President Christine Lagarde said the historic 75 basis point rise in interest rates was not the “norm” but stressed that the assessment would be made on a meeting-by-meeting basis.
Centeno says that the ECB should not run the risk of “coming and going” on 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 3, 6 and 12 months registered a historical minimum, respectively, of -0.605% on December 14, 2021, from -0.554% It is -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
