The three-month Euribor rate decreased to 2.069%, down from 2.075% on Friday, and remained below the six-month (2.150%) and 12-month rates (2.246%).
The six-month Euribor rate, which is the most commonly used in Portugal for variable rate mortgages, rose today, reaching 2.150%, up from 2.147% on Friday.
For the 12-month period, the Euribor rate fell to 2.246%, compared to the previous 2.254%.
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, and their evolution is tied to the European Central Bank’s (ECB) key rates.
The next ECB monetary policy meeting is scheduled for December 17 and 18 in Frankfurt.
On October 30, the ECB maintained its key rates for the third consecutive monetary policy meeting, as anticipated by the market, following eight reductions since the start of this cutting cycle in June 2024.
