Three and Six-Month Euribor Fall as 12-Month Holds Steady

The 3- and six-month Euribor rates fell yesterday, while the 12-month rate held steady compared to the day before.

The six-month Euribor rate, the most used in Portugal for mortgages, retreated yesterday to -0.515%, down by 0.002 points. The rate reached a low point of -0.534% on January 28.

According to the online newspaper Notícias ao Minuto and the Lusa news agency, the three-month Euribor rate fell on Thursday to -0.539%, down by 0.004 points.  The rate reached a low point of -0.556% on January 6.

The 12-month Euribor held steady yesterday at -0.476%. The rate reached a nadir of -0.515% on February 2.

The evolution of the Euribor interest rates is closely linked to the changes in the key interest rates set by the European Central Bank (ECB).

The three, six and 12-month rates fell below zero in 2015 on April 21, November 6 and February 5, respectively.

Euribor rates are determined by the average of the rates at which a group of 57 banks in the eurozone are willing to lend money to each other on the interbank market.