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Three-, six- and 12-month Euribor prices are rising to 14-year highs

Today’s three, six and 12-month Euribor prices have risen to new highs since January 2009 in two shorter periods since December 2008 in the long run.

The six-month Euribor, which is the most used in Portugal for housing loans and which entered the positive zone on June 6, rose today, for the second consecutive session, to 2.820%, in addition to 0.011 points and the new maximum since January 2009.

The 6-month average Euribor rose from 2.321% in November to 2.560% in December.

The six-month Euribor has been negative for six years and seven months (between November 6, 2015, and June 3, 2022).

In the same sense, the three-month Euribor, which entered the positive zone on July 14 for the first time since April 2015, also advanced today for the second consecutive session, as it was set at 2.284%, plus 0.014 points and new. Maximum since January 2009.

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

The three-month average Euribor rose from 1.825% in November to 2.063% in December.

In 12 months, the Euribor is also up today, set at 3.338%, up 0.010 points from Monday and the maximum since December 2008.

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 increased from 2.828% in November to 3.018% in December.

Euribor has been rising further since February 4th, 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 onset of Russia. Invasion of Ukraine on 24 February.

At the last monetary policy meeting, on December 15, the ECB raised key interest rates by 50 basis points, thus slowing the pace of increases with respect to the two previously recorded, which were 75 basis points, respectively, on October 27 and on September 8.

On July 21, the European Central Bank raised the three main interest rates by 50 basis points for the first time in 11 years.

Three, six and 12-month Euribor prices hit all-time lows, respectively, -0.605% on December 14, 2021, and -0.554% and -0.518% on December 20, 2021.

Euribor rates are determined on the basis of the average rate at which a group of 57 banks in the eurozone are willing to lend money to each other in the interbank market.

Portuguese