The Euribor rate fell this Wednesday to three, six and 12 months, compared to Tuesday. The 12-month Euribor rate, currently the most widely used in Portugal for variable-rate real estate loans, fell to 4.051%, 0.17 points less than on Tuesday, after reaching a new maximum since November 2008 on July 7 .
In six months, the Euribor rate, which entered positive territory on June 6, 2022, fell this Wednesday to 3.929%, minus 0.009 points compared to Tuesday, but still below the 3.987% registered on August 31, June. maximum since November 2008. In turn, the three-month Euribor fell 0.007 points compared to Tuesday, up to 3.795%, compared to a maximum of 3.826% on August 23 of this year.
The Euribor began to rise more significantly from February 4, 2022, after the European Central Bank (ECB) admitted that it could raise the main interest rates due to the increase in inflation in the euro area and the trend will be strengthened with the start of Russia’s monetary policy. Invasion of Ukraine on February 24, 2022.
At the last monetary policy meeting, held on July 27, the ECB raised interest rates again, for the ninth consecutive session, by 25 basis points (the same as on June 15 and May 4), an increase below the 50 basis points made on July 27. March 16, February 2, and December 15, when the rate of increases began to slow.
Previously, on October 27 and September 8, official rates rose 75 basis points. On July 21, 2022, the ECB had raised the three main interest rates by 50 basis points for the first time in 11 years. The next ECB monetary policy meeting will take place on September 14.
The three, six and 12-month Euribor rates registered historical lows, respectively, of -0.605% on December 14, 2021, -0.554% and -0.518% on December 20, 2021. of 19 eurozone banks are willing to lend money to each other in the interbank market.
Source: Observadora
