[Trending News] Euribor to three and six months falls to new minimums of about two years

With today's changes, in the third session after the European Central Bank (ECB) has again descended direct rates, the rate at three months, which dropped to 2.541%, continued above the rate at six months (2.475%) and of the rate at 12 months (2.350%).

The Euribor rate at six months, which spent in January 2024 to be the most used in Portugal in losation credits with variable rate, dropped today to 2.475%, less 0.061 points than on Monday and a new minimum since 09 December 2022.

Data from Banco de Portugal (BDP) for November show that Euribor at six months represented 37.47% of loan stocks for permanent housing with variable rate. The same data indicates that the Euribor at 12 and three months represented 32.92% and 25.58%, respectively.

Within 12 months, the Euribor rate also retreated today to 2.350%, less 0.086 points.

In the same vein, the Euribor for three months fell today, being fixed at 2.541%, less 0.021 points and a new minimum since February 2, 2023.

The Euribor rate at three months enters the calculation of the base rate of the certificates of aforro, which is determined monthly in the last last business day, to be effective during the following month, and may not exceed 2.50% or lower than 0%.

The gross interest rate for new aforro certificate subscriptions, Series F, in January 2025 was set at 2.500%.

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 averages at three and six months continued to fall, namely, to 2.704%, less 0.121 percentage points than in December, and to 2.614%, less 0.018 points.

At the January 30 monetary policy meeting and as anticipated by the markets, the ECB again lowered, for the fourth consecutive meeting, the main director rate at 25 base points.

The next ECB monetary policy meeting is held 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.

MC // MSF

Lusa/End