Six-month Euribor holding steady around 3.9 percent

Euro coins.
Euro coins. Source: Siim Lõvi/ERR

This week, the six-month Euribor, or Euro Interbank Offered Rate, once again reached a new peak in terms of recent years, but is nonetheless holding steady around 3.9 percent.

On Thursday, the six-month Euribor jumped from the previous day's 3.937 to 3.952 percent, after having peaked at 3.962 at the beginning of the week.

From the end of 2015 through last June, the six-month Euribor had remained below zero percent, clocking at -0.041 percent on January 4, 2016. It reached just above zero percent in early that month and broke above the 1-percent mark in August, however, and continued to climb.

The six-month rate peaked in December 2008 at 5.448 percent.

As of Thursday, the three-month Euribor had risen from 3.646 percent the day before to 3.698 percent. Its recent peak was achieved Tuesday with 3.705 percent.

The 12-month Euribor, meanwhile, reached 4.141 percent on Thursday, up from 4.121 the day before. The 12-month rate's recent peak stood at 4.193 percent.

Prior to the latest economic crisis, the Euribor typically stood between 2-5 percent.

Euribor rates are based on the interest rates at which a panel of European banks borrow funds from one another, according to the Euribor homepage.

The London Inter-Bank Offered Rate (Libor) was a similar rate monitored as a key base rate in countries outside the Eurozone, including the U.S. and U.K. Phased out in stages, the U.S. dollar-based Libor ceased publication for one-, three- and six-month settings on June 30 this year.


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Editor: Aili Vahtla

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