The three-month Euribor rate remained steady at 2.029%, continuing to be lower than the six-month and 12-month rates.
The six-month Euribor rate, which became the most commonly used benchmark for variable-rate housing loans in Portugal as of January 2024, rose to 2.114%, an increase of 0.008 points from Tuesday.
Data from the Bank of Portugal (BdP) for July indicates that the six-month Euribor accounted for 37.96% of the stock of home loans with variable rates.
The same data shows that the 12-month and three-month Euribor accounted for 32.09% and 25.51%, respectively.
Conversely, over a 12-month period, the Euribor rate decreased to 2.160%, down by 0.009 points.
The three-month Euribor held steady at 2.029%, the same as in the previous session.
This week, the European Central Bank (ECB) is holding its monetary policy meeting today and Thursday in Frankfurt, with analysts expecting the institution to maintain the key rates.
During the last monetary policy meeting on July 24, the ECB kept the key rates unchanged, as anticipated by the markets, following eight reductions since the cycle of cuts began in June 2024.
In August, the monthly averages for Euribor increased across all three terms, with the three-month term seeing the most significant rise.
The Euribor average for August rose 0.075 points to 2.021% for three months and 0.029 points to 2.084% for six months.
For 12 months, the Euribor average in August increased by 0.035 points to 2.114%.
The Euribor rates are determined by the average rates at which a group of 19 eurozone banks are willing to lend money to each other in the interbank market.
