The indicator is driven by the expectation of an imminent rate hike by the ECB, in a scenario marked by the war in Ukraine and the less transient nature of inflation.
Euskaraz irakurri: Euriborrak gora egin du apirilean, 2016ko urtarriletik aurrenekoz
The twelve-month Euribor, the index to which most mortgages refer, rose to 0.013% in April and registered a positive monthly average for the first time since January 2016.
This Friday, the last working day of the month, the indicator was at 0.166% in its daily rate, showing a monthly average of 0.013% in April, well above -0.237% in March and -0.483% in a year ago, driven by the expectation of an imminent rate hike by the European Central Bank (ECB), in a scenario marked by the war in Ukraine and the less transient nature of inflation.
On April 12, the Euribor recorded positive value in the daily rate (0.005%) for the first time since moving into negative territory in February 2016 as a result of the ECB’s ultra-expansive policy to support the euro-zone recovery.
After closing with a monthly interest rate of -0.502% in December 2021, the indicator started to rise, spurred by the change in ECB discourse, which has opened the door to a rise in interest rates this year.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
