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Euribor rates rise at 3 and 6 months and fall at 12 months

The 6-month Euribor rate, the most used in Portugal for mortgages and which entered positive territory on June 6, is now back at 2,406%, plus 0,001 point, after reaching 2,442% on November 29, a new plus. high since January 2009 .

The 6-month Euribor average fell from 1,997% in October to 2,321% in November.

The 6-month Euribor was negative for 6 years and 7 months (between November 6, 2015 and June 3, 2022).

The 3-month Euribor, which entered positive territory on July 14 for the first time since April 2015, also rose today, standing at 1,975%, up 0,003 points, against 1,984% on November 29, a new plus. high since February 2009.

The 3-month Euribor rate was negative between April 21, 2015 and July 13 (seven years and two months).

The three-month Euribor average rose from 1,428% in October to 1,825% in November.

On the other hand, in the space of 12 months, the Euribor fell today, settling at 2,811%, or 0,031 points less than Thursday, against 2,892% on November 28 and 29, a maximum since January 2009.

After rising to 0,005% on April 12, 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 fell from 2,629% in October to 2,828% in November.

Euribor began to rise more significantly from February 4, after the European Central Bank (ECB) admitted that it may raise key interest rates this year due to rising inflation in the Eurozone and the trend strengthened with the start of the Invasion of Ukraine on February 24.

On October 27, in a bid to curb inflation, the ECB raised the three main interest rates by 75 basis points, the third consecutive hike this year, after raising the three main interest rates by 50 basis points basis on July 21, the first increase in 11 years, and on September 8 by 75 basis points.

The evolution of Euribor interest rates is closely linked to the rise or fall of the key ECB rates.

The 3, 6 and 12 month Euribor rates recorded historic lows, respectively -0,605% on December 14, 2021, -0,554% and -0,518% on December 20, 2021.

Euribor is set by the average of the rates at which a group of 57 banks in the euro zone are willing to lend money to each other on the interbank market.

MC // JNM

Lusa / End

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