On Thursday this week, the European Central Bank's (ECB) board opted to raise the base interest rates by by 25 basis points once again, bumping them to 4.50, 4.75 and 4.00 percent, respectively, from next Wednesday.

This in turn also has a knock-on effect on the Euribor rate.

The last time the six-month Euribor was at such a high level came in 2008. 

Before the last economic crisis, the six-month Euribor was between two and five percent.

Following this decision, the interest rate for the main refinancing operations will stand at 4.5 percent, the interest rate on the fixed borrowing option at 4.75 percent, and the interest rate on the fixed deposit option at 4 percent.

Meanwhile, the three-month Euribor rose to 3.867 percent on Thursday, also the highest level in recent years. 

The 12-month Euribor rose to 4.159 percent; in July the 12-month rate had passed the peak level of recent years, at 4.193 percent.

The Euribor is a pan-European interbank interest rate which European banks use to lend money to each other.

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