According to the Bank of Portugal, the 12-month Euribor already represents 43% of the 'stock' of loans for permanent housing with a variable rate, while the six-month Euribor represents 32%.
The Euribor began to rise more significantly since February 4, 2022, after the European Central Bank (ECB) admitted that it could raise the main interest rates this year due to the increase in inflation in the eurozone and the trend was reinforced with the start of Russia's invasion of Ukraine on February 24, 2022.
At the last monetary policy meeting, on March 16, the ECB once again raised key interest rates by 50 basis points, the same increase as on February 2 and December 15, when it began to slow down the pace of increases in compared to the two recorded previously, which were 75 basis points, respectively on October 27th and September 8th.
Euribor exceeds 3% for first time since 2008
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