EURIBOR rates fall at three months, rise at six and remain at 12 months

In the 12-month period, the Euribor rate remained unchanged, being set at -0.248%, against the current minimum, of -0.399%, on 21 August. The evolution of Euribor interest rates is closely linked to increases or decreases in the European Central Bank’s (ECB) key interest rates.
Euribor rates dropped to three months today, rose to six and remained at 12 months compared to Monday.

The six-month Euribor rate, the most used in Portugal for housing loans, rose today to -0.323%, up 0.002 points and against the current low of -0.448%, recorded on 3 September.

The three-month Euribor fell to -0.387%, minus 0.002 points and against the current all-time low of -0.448%, also recorded on September 3rd.

In the 12-month period, the Euribor rate remained unchanged, being set at -0.248%, against the current minimum, of -0.399%, on 21 August.

The evolution of Euribor interest rates is closely linked to increases or decreases in the European Central Bank’s (ECB) key interest rates.

Euribor rates accentuated the negative value after Frankfurt’s indication that it will keep the key interest rates at low levels, instead of the expected increases, and that they may even fall again, given the lack of solidity of the economic growth of the eurozone.

The interest rate applied to the main refinancing operations is 0%, the marginal lending facility rate is 0.25% and the deposit facility rate is -0.50%.

The three-, six- and 12-month Euribor rates entered negative territory in 2015, on April 21, November 6 and February 5, respectively.

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

Source: Lusa
Photo: DR