MADRID, 5 Oct. (EUROPA PRESS) –
The 12-month Euribor has chained six days of declines in its daily rate, after having reached a peak of 2.625% last Tuesday and having placed the September average at 2.233%, its highest level since January 2009.
The indicator intensified its climb during the month of September, boosted by the rate revisions by the central banks.
The United States Federal Reserve agreed to the third consecutive rise in interest rates of 75 basis points, to place them in a target range of between 3% and 3.25%, which meant the highest price of money recorded by the country since January 2008, a few months before that year’s crisis broke out with the bankruptcies of Bear Sterns and Lehman Brothers.
Experts point out that, with its rises, the Euribor tries to anticipate the next monetary policy movements, since what happens in the United States could be a preview of what happens in Europe in the coming months, they point out from HelpMyCash.
The director of Accuracy, Alberto Valle, explains that the rise in the index responds to the expectations that banking entities have of the evolution of the reference rates set by the European Central Bank (ECB) for the coming months. “This expectation comes from a projection of high inflation until at least March 2023, from the reduction in liquidity available in the market due to the change in monetary policy by the ECB and from an increase in risks,” he adds.
However, after having stood on September 27 and 28 above 2.6%, the Euribor has chained six sessions downward in its daily rate, until it stood at 2.363% this Wednesday.
Despite the difficulty of making forecasts in such a volatile environment, the CEO of CaixaBank pointed out yesterday that the future curve of the Euribor indicates that, at the end of the year, the indicator will be close to 3%.
This forecast coincides with that of Asufin, which has revised its forecast for the end of the year to raise it to 3%, and with that of HelpMyCash, which forecasts that the index will close 2022 at 3% or above and that it will continue to rise in 2023.
In Hipoo they assure that the situation in the euro zone will not allow a rise in the Euribor levels of 5%, as happened in 2008, and from iAhorro they call to remain calm in the face of the situation and assure that a Euribor around 2% “is something normal”.
