Euribor stays three months, falls six and rises to 12 months

A euribor rate remained today three months, dropped to six and rose to 12 months compared to Tuesday.

The six-month Euribor rate, which went on in January 2024 to be the most used in Portugal in variable rate housing credits, today declined when it was set at 2,960%, minus 0,030 percentage points than on Tuesday.

Data from Banco de Portugal (BdP) for August indicate that six-month Euribor represented 40.3% of the ‘stock’ of loans for permanent own housing with variable rate.

The same data indicate that Euribor at 12 and 3 months represented 31.03% and 24.27%, respectively.

Within 12 months, the Euribor rate rose today to 3.290%, plus 0.028 points than the day before.

The three-month-old Euribor remained today, again being set at 2.618%.

Today the ECB's monetary policy meeting in Frankfurt begins and the market expects the entity to maintain the governing fees.

On 10 September, as expected by the markets, the European Central Bank (ECB) raised the lead rates by 25 basis points after maintaining them in July.

In June, for the first time since September 2023, the ECB had raised the principal rates, namely 25 basis points, after maintaining them in April, by the seventh consecutive meeting and eight reductions since the entity started the cycle of cuts in June 2024.

Euribors are set by the average rates at which a set of 21 euro area banks are willing to lend money to each other in the interbank market.