Euribor shoots up to 1,344% maximum in over a decade

Euribor, the index by which the majority of variable rate mortgages are referenced in Spain, rose this Monday. 1,344, It represents the highest daily level since April 2012, thus anticipating the next rate hike the European Central Bank (ECB) may implement at its September meeting.

Given continued high inflation in July, the market is now discounting a new 50 basis point rate hike by the central bank. all-time high 8.9% for the eurozone as a whole.

will be the second rise 50 basis points, After the ECB surprised it with an initial 0.5 percent increase at its July meeting. In this way, the interest rate in financing transactions reached 0.50%, the deposit interest rate reached 0%, and the loan utilization rate reached 0.75%.

With this daily increase in Euribor, the index is monthly average of 1.125%, In the absence of six sessions to close August. If it ends like this, it will be 1.219%, the highest level since June 2012.

This Monday’s uptrend provides continuity ‘bull rally’ He said the index experienced last week, reaching 1.258 on Friday, August 22, from 1.18% on Tuesday, August 16.

Source: Informacion

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