Euribor for three months falls to a new minimum in over a year

The three-month Euribor has come down on Thursday to a new minimum since February 2023. The rate at six months remained at least more than two years and 12 months rose. In all deadlines it was below 2.5%.

The rate at three months, which dropped to 2.485%, below 2.5%for the second time in more than one year, remained above the rate at six months (2.389%) and the 12-month rate (2.409%).

The Euribor rate at six months, which passed in January 2024 to be the most used in Portugal in the credits to varying rate housing, remained today at 2.389%, the same value as Wednesday and a new minimum since 25 November 2022.

Data from Banco de Portugal (BDP) for December indicate that Euribor at six months represented 37.64% of the loan loans for permanent housing with variable rate. The same data indicates that the Euribor at 12 and three months represented 32.69% and 25.6%.

In monthly terms, Euribor's average in January again went down to three and six months, but rose to 12 months, for the first time after nine months falling. While the 12 -month Euribor average rose 0.089 points to 2.525%in January, the average at three and six months continued to fall to 2.704%, less 0.121 percentage points than in December, and to 2.614%, less 0.018 points.

At the Janeir 30 monetary policy meeting, the ECB again lowered, for the fourth consecutive meeting, the main director rate at 25 base points. The next ECB monetary policy meeting takes place on March 5 and 6 in Frankfurt.

Euribor are fixed by the average rates to which a set of 19 euro zone banks are willing to lend money to each other in the interbank market.