Increase in three-, six- and twelve-month Euribor rates

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Euribor rates rose today at three, six and twelve months, compared with Wednesday.

The 12-month Euribor rate, currently the most widely used in Portugal for variable-rate mortgages, rose today to 3.936%, up 0.013 points on Wednesday, after having risen on May 29 to 3.982%, a new high since November 2008.

According to March 2023 data from the Bank of Portugal, 12-month Euribor accounts for 41% of outstanding variable-rate permanent home loans. The same data show that six- and three-month Euribor rates account for 33.7% and 22.9% respectively.

The average 12-month Euribor rate rose from 3.757% in April to 3.862% in May, an increase of 0.103 points.

At six months, the Euribor rate, which entered positive territory on June 6, 2022, rose today to 3.757%, up 0.024 points, after reaching the new maximum since November 2008 of 3.781%, also verified on May 29.

The average six-month Euribor rose from 3.516% in April to 3.682% in May, an increase of 0.166 points.

Similarly, the three-month Euribor rate rose today to 3.486%, up 0.027 points on Wednesday. On June 5 this year, the Euribor rate reached its highest level since November 2008, when it stood at 3.493%.

The average three-month Euribor rose from 3.179% in April to 3.372% in May, an increase of 0.193 percentage points.

Euribor began to rise more significantly from February 4, 2022 after the European Central Bank (ECB) admitted it might raise key interest rates due to rising inflation in the eurozone, and the trend was reinforced with the start of Russia’s invasion of Ukraine on February 24, 2022.

Na mais recente reunião de política monetária, em 04 de maio, o BCE voltou a subir, pela sétima vez consecutiva, mas apenas em 25 pontos base, as taxas de juro diretoras, acréscimo inferior ao efetuado em 16 de março, em 02 de fevereiro e em 15 de dezembro, quando começou a desacelerar o ritmo das subidas em relação às duas registadas anteriormente, que foram de 75 pontos base, respetivamente em 27 de outubro e em 08 de setembro.

Em 21 de julho de 2022, o BCE aumentou, pela primeira vez em 11 anos, em 50 pontos base, as três taxas de juro diretoras.

As taxas Euribor a três, a seis e a 12 meses registaram mínimos de sempre, respetivamente, de -0,605% em 14 de dezembro de 2021, de -0,554% e de -0,518% em 20 de dezembro de 2021.

As Euribor são fixadas pela média das taxas às quais um conjunto de 57 bancos da zona euro está disposto a emprestar dinheiro entre si no mercado interbancário.

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