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Euribor rises to a new high at 6 months and falls at 3 and 12 months

The 6-month Euribor rate, the most used in Portugal for mortgages and which entered positive territory on June 6, is now rising to 1,858%, up 0,007 points and a maximum since January 2009.

The 6-month Euribor average fell from 0,466% in July to 0,837% in August.

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

On the other hand, the 3-month Euribor, which entered positive territory on July 14 for the first time since April 2015, is falling today, for the first time since September 9, when it was fixed at 1,193, minus 0,035. point, after climbing to 1,228% on Tuesday, a new high since January 2012.

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

The three-month Euribor average rose from 0,037% in July to 0,395% in August.

In the space of 12 months, the Euribor also fell today, also for the first time since September 9, when it stood at 2,621%, minus 0,004 points, against 2,625% on Tuesday, a new high since February 2009.

After soaring to 12% on April 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 rose from 0,992% in July to 1,249% in August.

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

On September 8, the ECB raised the three key rates by 75 basis points, the second consecutive increase this year, since on July 21, it had raised the three key rates by 50 basis points, the first increase in 11 years, with the aim of curbing inflation.

Following the latest meeting, ECB President Christine Lagarde said the historic 75 basis point rise in interest rates was not the "norm", but stressed that the assessment would be meeting by meeting.

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 their 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 // CSJ

Lusa / End

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