Euribor rates for three, six and 12 months on Tuesday rose to their highest since September.
The six-month Euribor rate, the most widely used in Portugal in housing loans, advanced today to -0.232%, plus 0.021 points, a maximum since September, against the current all-time low of -0.448%, verified on September 3, 2019.
The three-month Euribor also rose today to -0.293%, plus 0.025 points, also a high since September, against the current all-time low of -0.489%, registered on March 12.
In the same vein, the 12-month Euribor rate advanced to -0.122%, plus 0.012 points, a high since September 2019, against the current low of -0.399% on August 21, 2019.
The evolution of Euribor interest rates is closely linked to the increases or decreases in the European Central Bank’s (ECB) key interest rates.
The three-, six- and 12-month Euribor rates entered negative territory in 2015, on April 21, November 6 and February 5, respectively.
Euribor rates are set by the average of the rates at which a group of 57 banks in the euro zone is willing to lend money to each other on the interbank market.
