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The Euribor falls below 3.7% in daily rate for the first time since April after the ECB

MADRID, 15 Dic.

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The Euribor falls below 3.7% in daily rate for the first time since April after the ECB

MADRID, 15 Dic. (EUROPA PRESS) -

The 12-month Euribor in its daily data has fallen this Friday to 3.644%, being the first time that it has fallen below the level of 3.7% since April, after yesterday the president of the European Central Bank ( ECB) will show more conservative rhetoric than its American counterpart, Jerome Powell.

In this way, the average of the reference rate so far in December is located at 3.753%, which represents the lowest Euribor figure since March, when it stood at 3.647%.

If the month closes at a similar value, the increase in the Euribor compared to a year before would be 73.5 basis points. The rate has not experienced such a slight annual increase since April 2022, since the sharp rise in interest rates has caused year-on-year revaluations of the Euribor of more than 350 basis points for several months.

At the press conference after the conclave of the Governing Council of the ECB on Thursday, the president of the organization, Christine Lagarde, defended that "we must not let our guard down", since the new ECB forecasts suggest that inflation will still be of 2.1% in 2025, clarifying that the entity's governing body "did not discuss any rate cuts."

Lagarde also defended the need to have more data on the evolution of salaries and company benefits before making any new decisions.

The ECB left the reference rate for its refinancing operations unchanged at 4.50%, while the deposit rate was left at 4% and the lending facility rate at 4.75%.

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BCE