The indicator has been driven by driven by the expectation of an upcoming interest rate hike by the ECB, in a scenario marked by the war in Ukraine and the less transitory nature of inflation.
Euskaraz irakurri: Euriborra balio positiboan kokatu da apirilean, 2016ko urtarriletik aurrenekoz
The twelve-month Euribor, the index to which most mortgages are referenced, rose to 0.013% in April, registering a positive monthly average for the first time since January 2016.
This Friday, the last business day of the month, the indicator stood at 0.166% in its daily rate, which shows 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 upcoming rise in interest rates by the European Central Bank (ECB), in a scenario marked by the war in Ukraine and the less transitory nature of inflation.
On April 12, the Euribor registered a positive value in the daily rate (0.005%) for the first time since it entered negative territory in February 2016 due to the ultra-expansive policy of the ECB to underpin the recovery in the euro zone.
After closing with a monthly rate of -0.502% in December 2021, the indicator began its climb boosted by the change in the ECB’s discourse, which has opened the door to a rise in interest rates this year.
Source: Eitb
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