Six-month Euribor still hovering just below 4 percent

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

This week, the six-month Euribor, or Euro Interbank Offered Rate, remained steady between 3.92-3.95 percent.

The six-month Euribor reached a high of 3.95 percent on Monday, following which it saw a slight drop. As of Thursday, however, it had returned back up to 3.937 percent.

The six-month rate has remained steady around 3.9 percent since the end of this June.

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 early last June, however, and broke above the 1-percent mark in August 2022 before continuing to climb.

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

As of Thursday, the three-month Euribor climbed from 3.754 to 3.788 percent in the space of a week, reaching a new high rate.

The 12-month Euribor, meanwhile, remained steady on week, sitting at 4.052 percent on Thursday.

Interbank offered rates

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.

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

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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