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The Euribor year begins to rise to three, six and 12 months long

Today, Euribor prices are up for three, six and 12 months, continuing in 2023 the trend seen last year.

The six-month Euribor, which is the most used in Portugal for housing loans and entered the positive zone on June 6, rose today to 2.732%, up 0.039 points from Friday.

The 6-month average Euribor rose from 2.321% in November to 2.256% in December.

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

In 12 months, the Euribor index rose by 0.025 points compared to Friday, to 3.316%.

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.

The three-month Euribor index, which entered the positive zone on July 14 for the first time since April 2015, increased by 0.030 points, and settled at 2.162%, against 2.132% on Friday.

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.

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 its last monetary policy meeting, on December 15, the European Central Bank raised key interest rates by 50 basis points, slowing the pace of increases in relation 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