Euribor 12-month interest rate positive for first time since 2016
The evolution of Euribor interest rates is closely linked to the rises or falls in key ECB interest rates.
Euribor rates rose on Tuesday for three, six and 12 months, on the longer maturity to positive ground for the first time since February 2016.
For the 12-month term, the Euribor rate was set at 0.005%, for the first time positive since 5 February 2016 and 0.035 points more than on Monday, against the current all-time low of -0.518%, verified on 20 December 2021.
The six-month Euribor rate, the most used in Portugal in mortgages, also advanced today, to -0.320%, 0.014 points more than on Monday and a new maximum since August 2020, against the all-time low of -0.554%, verified on 20 December 2021.
In the same direction, the three-month Euribor advanced to -0.433%, up 0.002 points and a new maximum since August 2020, against the all-time low of -0.605%, recorded on 14 December 2021.
Euribor rates have been volatile, but under pressure, since the start of Russia’s invasion of Ukraine on February 24, after starting to rise more significantly since February 4, after the European Central Bank (ECB) acknowledged it could raise key interest rates this year due to rising inflation in the eurozone.
The evolution of Euribor interest rates is closely linked to the rises or falls in key ECB interest rates.
The three, six and 12-month Euribor rates entered negative terrain on 21 April 2015, 6 November 2015 and 5 February 2016 respectively.
Euribor rates are set as 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.
