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3, 6 and 12-month Euribor decreases
The Euribor rate fell today at three, six and 12 months compared to Tuesday.
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Economia Euribor
The six-month Euribor rate, which has become the most used in Portugal for variable rate housing loans and which was above 4% between 14 September and 1 December, fell today to 3.833%, down 0.011 points, after having risen on 18 October to 4.143%, a new high since November 2008.
Data from the Banco de Portugal (BdP) for February indicate that the six-month Euribor is the most used, representing 36.6% of the 'stock' of loans for permanent own housing with variable rates. The same data indicate that the 12-month and three-month Euribor represented 34.7% and 24.6%, respectively.
In the 12-month period, the Euribor rate, which was above 4% between 16 June and 29 November, also fell today to 3.701%, down 0.017 points from the previous session, against the high since November 2008, of 4.228%, recorded on 29 September.
In the same vein, the three-month Euribor fell, being fixed at 3.879%, down 0.003 points, after having risen on 19 October to 4.002%, a new high since November 2008.
At the monetary policy meeting on 11 April, the ECB kept the key interest rates at their highest level since 2001 for the fifth consecutive time, after having made 10 increases since 21 July 2022.
The next ECB monetary policy meeting will be held on 6 June in Frankfurt.
The average Euribor in March remained at 3.923% at three months, fell 0.006 points to 3.895% at six months (against 3.901% in February) and rose 0.047 points to 3.718% at 12 months (against 3.671%).
The Euribor began to rise more significantly from 4 February 2022, after the ECB admitted that it could raise key interest rates due to rising inflation in the eurozone and the trend was reinforced with the start of the Russian invasion of Ukraine on 24 February 2022.
The three-, six- and 12-month Euribor rates hit record lows of -0.605% on 14 December 2021, -0.554% and -0.518% on 20 December 2021, respectively.
The Euribor are fixed by the average of the rates at which a group of 19 eurozone banks are willing to lend money to each other on the interbank market.
Read Also: Euribor falls at three, six and 12 months (Portuguese version)
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