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Euribor rises at three and six months and falls at 12 months
The Euribor rate rose today at three and six months and fell at 12 months compared to Thursday.
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Economia Euribor
The six-month Euribor rate, which has become the most widely used in Portugal for variable-rate housing loans and which was above 4% between 14 September and 01 December, rose today to 3.835%, up 0.010 points, after rising on 18 October to 4.143%, a new high since November 2008.
Data from the Banco de Portugal (BdP) for February show the six-month Euribor as 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.
Over 12 months, the Euribor rate, which was above 4% between 16 June and 29 November, fell today to 3.724%, down 0.004 points from the previous session, against the high since November 2008 of 4.228%, recorded on 29 September.
In the opposite direction, the three-month Euribor rose, being fixed at 3.865%, up 0.001 points, after rising on 19 October to 4.002%, a new high since November 2008.
At the monetary policy meeting of 11 April, the ECB kept the reference interest rates at the 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 06 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 04 February 2022, after the ECB admitted that it could raise the key interest rates due to the increase in 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 at three and six months and rises at 12 months (Portuguese version)
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