Euribor rates rose today for three, six and 12 months, with the six-month rate renewable for a maximum of 14 years.
The six-month Euribor rate, which is the most used in Portugal for home loans and which entered positive territory on June 6, 2022, today renewed the 14-year maximum by rising 0,020 points to 2,942%, against 2,922% in Thursday.
On the 25th of January, the six-month Euribor had reached a maximum when it settled at 2,928%.
The six-month Euribor average rose from 2,321% in November to 2,560% in December.
The six-month Euribor was negative for six years and seven months (between 6 November 2015 and 3 June 2022).
Within 12 months, the Euribor reversed the previous trend and rose 0,004 points to 3,356%, against 3,352% in the previous session.
After having shot up on April 12th to 0,005%, for the first time positive since February 5th, 2016, the 12-month Euribor has been in positive territory since April 21st.
The 12-month Euribor average increased from 2,828% in November to 3,018% in December.
Also the three-month Euribor, which entered positive territory on 14 July for the first time since April 2015, rose by 0,024 points to 2,492%, after having settled at 2,468% on Thursday.
The three-month Euribor rate was negative between 21 April 2015 and 13 July last (seven years and two months).
The three-month Euribor average rose from 1,825% in November to 2,063% in December.
The Euribor began to rise more significantly since February 4th, after the European Central Bank (ECB) admitted that it could raise the main interest rates this year due to the increase in inflation in the euro zone and the trend was reinforced with the beginning of Russia's invasion of Ukraine on February 24.
At the last monetary policy meeting, on 15 December, the ECB increased key interest rates by 50 basis points, thus slowing down the pace of increases in relation to the two previously recorded, which were 75 basis points, respectively, on 27 October and on 8 September.
On July 21, the ECB raised the three key interest rates by 11 basis points for the first time in 50 years.
The three-, six- and 12-month Euribor rates registered all-time lows, respectively, of -0,605% on 14 December 2021, -0,554% and -0,518% on 20 December 2021.
The Euribor are fixed by the average of the rates at which a group of 57 banks in the eurozone are willing to lend money to each other in the interbank market.
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