With today’s changes, the three-month Euribor rate increased to 1.998%, remaining below the six-month (2.129%) and 12-month (2.211%) rates.
The six-month Euribor rate, which became the most used in Portugal for variable-rate housing loans in January 2024, fell today, being set at 2.129%, 0.001 points less than on Wednesday.
Data from the Bank of Portugal (BdP) for September indicate that the six-month Euribor accounted for 38.3% of the stock of loans for owner-occupied permanent housing with a variable rate.
The same data show that the 12-month and three-month Euribor rates represented 31.87% and 25.33%, respectively.
Over 12 months, the Euribor rate also decreased, set at 2.211%, 0.001 points less than the previous session.
In contrast, the three-month Euribor rose to 1.998%, remaining below 2%, 0.008 points more than on Wednesday.
Regarding the Euribor monthly average in October, it rose again in all three terms, more significantly at 12 months.
The Euribor average in October increased by 0.007 points to 2.034% for three months and by 0.005 points to 2.107% for six months.
For 12 months, the Euribor average increased more significantly in October, namely by 0.015 points to 2.187%.
On Thursday, the European Central Bank (ECB) maintained the key interest rates for the third consecutive monetary policy meeting, as anticipated by the market, following eight reductions since the entity began this cycle of cuts in June 2024.
ECB President Christine Lagarde stated at the end of Thursday’s meeting in Florence that the entity is “in a good position” from a monetary policy perspective, but noted it is not a fixed place.
The next monetary policy meeting of the ECB will take place on December 17 and 18 in Frankfurt.
The Euribor rates are set by the average of the rates at which a group of 19 eurozone banks is willing to lend money to each other on the interbank market.
