In May, Euribor’s monthly averages fell again in the three deadlines, less intensely than in the monthsand more strongly within the shorter period (three months).
Euribor has come down Monday to three months to a new minimum since November 2022 and rose to six and 12 months in relation to last Monday. With changes, the rate at three months, which dropped to 1.971%, was below rates to six (2.074%) and 12 months (2.070%).
A Euribor rate at six monthswhich spent in January 2024 to be the most used in Portugal in the credits to varying rate housing, It advanced, when set at 2.074%, plus 0.011 points.
Banco de Portugal (BDP) data for March indicate that the Euribor at six months represented 37.65% of the loan stock for permanent housing with variable rate.
The same data indicate that the Euribor at 12 and three months represented 32.39% and 25.67%respectively. Within 12 months, the Euribor rate also rose, being set at 2.070%, more 0.013 points than on Monday.
On the contrary, the three -month Euribor, which has been below 2% since May 30 last, retreated to 1.971%, less 0.008 points and a new minimum since November 29, 2022.
Monthly averages fell again in the three deadlines in May
In May, Euribor’s monthly averages fell again in the three deadlines, less intensely than in the monthsand more strongly within the shorter period (three months). The Euribor average in May descended 0.150 points to 2.099% to three months, 0.082 points to 2.120% to six months and 0.062 points to 2.091% to 12 months.
This week, on June 5 and 6, in Frankfurt, the next monetary policy meeting of the European Central Bank (ECB) and markets anticipate a new descent of the Direct Rate, from 0.25 points to 2%.
If it is realized, this descent will be the eighth since the ECB started this cycle of cuts in June 2024 and, according to analysts, the last this year. On April 17, at the last monetary policy meeting, the ECB dropped the director rate in a quarter of point to 2.25%.
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.
