Six-month Euribor slowly climbs up

Money. Source: Siim Lõvi /ERR

The six-month Euribor dipped to 3.886 percent on Wednesday, down from 3.892 percent the day before and up from 3.79 percent a week ago.

Before the start of the week, the six-month Euribor was at the same level as it was in November 2008.

Wednesday's three-month Euribor rate was 3.568 percent, down from the previous day but up 0.04 percentage points week-over-week.

The 12-month euro interest rate rose to 4.088 percent on Wednesday.

From the end of 2015 until June of last year, the six-month Euribor was negative, reaching a high of 5.448 percent in December 2008. Prior to that, the average level was between 2 and 5 percent.

Last week, the European Central Bank raised interest rates by an additional 0.25 percentage points in an effort to curtail inflation's rapid rise, which had a knock-on effect on the Euribor.

The central bank is also considering increasing interest rates next month, so it is unlikely that the Euribor has reached its peak.

The Euro Interbank Offered Rate, or Euribor, is a pan-European interbank interest rate at which European institutions can lend money to one another.


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Editor: Barbara Oja, Kristina Kersa

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