Euribor, The index to which most variable-rate mortgages in Spain relate shot up this Monday to 1.344%, its highest daily level since April 2012. the next rate hike that the European Central Bank (ECB) may apply at their meeting in September.
The market is now down another 50 basis point rate hike from the institution chaired by Christine Lagarde. He will take this decision to try to reduce the persistence of high inflation, which in July reached a historic high of 8.9% for the euro area as a whole.
This would be the second hike of 50 basis points since the ECB surprised with this first increase of 0.5% at the July meeting.
Recording in August
Thus, the interest rate for its financing operations reached 0.50%, while the interest rate on deposits reached 0% and the interest rate on loans – 0.75%.
With this daily rise in Euribor, the index registered temporary monthly average of 1.125%, absent six sessions to close August. If it ends this way, it will be its highest level since June 2012, when it was 1.219%.
[El Euríbor sigue su ‘rally’ y supera el 1% por primera vez desde hace diez años]
This Monday’s rise continues the “bullish rally” that the index experienced last week, which took it from a level of 1.118% on Tuesday, August 16, to 1.258% on Friday, August 22.