The Euribor rates continued this Friday rising to three, six and 12 months compared to Thursday, 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, rose this Friday to 1.803% plus 0.040 points and a new maximum since September 2011, after falling on Thursday for the first time since September 9.
The six-month Euribor went 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).
The three-month Euribor, which entered positive territory on July 14 for the first time since April 2015, continued to advance this Friday, standing at 1.153%, plus 0.033 points and a new maximum since February 2012.
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 0.037% in July to 0.395% in August.
Within 12 months, the Euribor also advanced this Friday, when it was set at 2.500%, plus 0.058 points and a new maximum since February 2009.
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 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 the increase in inflation in the eurozone and the trend was reinforced with the start of the Russian invasion of Ukraine on February 24.
On September 8, the ECB raised the three reference interest rates by 75 basis points, the second consecutive increase this year, since on July 21 it had raised the three reference interest rates by 50 basis points, the first rise in 11 years, with the aim of curbing inflation.
At the end of the last meeting, the President of the ECB, Christine Lagarde, said that the Historic 75 basis point increase in interest rates is not the “norm”but he stressed that the evaluation will be meeting by meeting.
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.