Another day, another climb. Euribor hit new highs

Euribor rates rose this Friday to three, six and 12 months compared to Thursday, reaching new highs in all maturities.

The six-month Euribor rate, the most used in Portugal for housing loans and which entered positive territory on June 6, rose this Friday to 1.290%, 0.057 points more than the day before.

The six-month Euribor average in August rose to 0.837%, against 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 the three-month period, 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 rate was negative between April 21, 2015 and July 13, 2015 (seven years and two months).

The three-month Euribor average rose to 0.395% in August, against 0.037% in July and -0.239% in June.

In relation to the 12-month term, the Euribor rose 0.045 points this Friday to 1.896%.

After having soared on April 12 to 0.005%, for the first time positive since February 5, 2016, the 12-month Euribor has been in positive territory since April 21.

The 12-month Euribor average increased to 1.249% in August, after averages of 0.992% in July and 0.852% in June.

Euribor started 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 with the beginning of the Russia’s invasion of Ukraine on February 24.

At the monetary policy meeting held on 21 July, the ECB raised the three key 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 Euribor interest rates is closely linked to increases or decreases in key ECB interest rates.

The three-, six- and 12-month Euribor rates recorded their lowest ever, respectively, of -0.605% on 14 December 2021, -0.554% and -0.518% on 20 December 2021.

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 on the interbank market.

Source: Renascença – Noticias by

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