Meteorologia

  • 18 MAIO 2024
Tempo
19º
MIN 13º MÁX 20º

Euribor falls at three and six months and rises at 12 months

The Euribor rate fell today at three and six months and rose at 12 months compared to Wednesday.

Euribor falls at three and six months and rises at 12 months
Notícias ao Minuto

10:33 - 25/04/24 por Lusa

Economia Mercado

With today's changes, the three-month Euribor, which fell to 3.864%, remains above the six-month rate (3.825%) and the 12-month rate (3.728%).

The six-month Euribor rate, which has become the most widely used in Portugal for housing loans with variable rates and which was above 4% between 14 September and 1 December, fell today to 3.825%, down 0.008 points, after rising 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 widely 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 same vein, the three-month Euribor fell, being fixed at 3.864%, down 0.015 points, after rising on 19 October to 4.002%, a new high since November 2008.

In the 12-month period, the Euribor rate, which was above 4% between 16 June and 29 November, rose today to 3.728%, up 0.027 points from the previous session, against the high since November 2008 of 4.228%, recorded on 29 September.

At the monetary policy meeting on 11 April, the ECB kept 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 started 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 invasion of Ukraine by Russia on 24 February 2022.

The three-, six- and 12-month Euribor rates recorded all-time 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 to three, six and 12 months (Portuguese version)

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