Today’s adjustments saw the three-month Euribor rate decrease to 2.029%, remaining below the six-month (2.113%) and twelve-month (2.251%) rates.
The six-month Euribor rate, which became the most commonly used rate in Portugal for variable-rate home loans in January 2024, decreased to 2.113%, down 0.008 points from Tuesday.
Data from the Bank of Portugal (BdP) for September shows that the six-month Euribor accounted for 38.3% of the stock of variable-rate home loans.
The same data indicates that the twelve-month and three-month Euribor accounted for 31.87% and 25.33%, respectively.
In contrast, the twelve-month rate increased to a new high since April 3, reaching 2.251%, up 0.007 points from the previous session.
The three-month Euribor decreased to 2.029%, down 0.014 points from Tuesday.
As for the monthly average in November, the Euribor increased again across all terms, more significantly compared to the previous month, especially for the longer terms.
The November average rose by 0.008 points to 2.042% at three months, while at six and twelve months, it advanced by 0.0024 points to 2.131% and 0.030 points to 2.217%, respectively.
The next European Central Bank (ECB) monetary policy meeting is scheduled for December 17 and 18 in Frankfurt.
On October 30, the ECB maintained its key interest rates for the third consecutive monetary policy meeting, as anticipated by the market, after eight reductions since the entity began this cycle of cuts in June 2024.
ECB President Christine Lagarde stated at the end of the October 30 meeting in Florence that the institution is “in a good position” regarding monetary policy but highlighted that it is not a fixed position.
The Euribor rates are established by the average of the rates at which a group of 19 eurozone banks is willing to lend money to each other in the interbank market.
