EURIBOR TODAY | Euribor price today, October 4, 2024: the rate collapse hits a new record

He Euriborabbreviation for Euro The interbank offered rate is a key indicator in the European financial sector. It is calculated from interest rates to which European banks are willing to lend to each other.

Daily updates around 12:00 p.m. serve as benchmarks for interest rates on a wide range of financial products, including mortgages; This makes it an important tool for investors, lenders and borrowers.

New drop

Since the beginning of 2024, its average value is 3.675%noting decrease -0.347 points compared to 2023 average (4.022%): 3.605% in January, 3.671% in February, 3.718% in March, 3703% in April, 3680% in May, 3650% in June, 3.526% in July, 3.166% in August and 2936% in September.

Today’s index October 4stays in 2.688% (-0.024), a yearly low, while the October average so far is 2.723% (-0.213) and what is expected in this tenth month of the year in 2.694%.

ECB and interest rates

Last October, Euribor reached its highest level in six years, reaching 4.16%. The European Central Bank (ECB) subsequently cut interest rates by 25 basis points – from 4.5% to 4.25% – thereby ending the rise in the cost of money that began in July 2022.

This measure was aimed at combating rising prices that were stifling the economy at the time due to the energy crisis caused by the Ukrainian war.

Now the body chaired by the Frenchwoman Christine Lagarde has approved second drop of 0.25 points interest Guys of interest officers eurozone this year. This measure joins the fall Guys interest in the United States, which is currently in the range of 4.75 to 5%.

The future of interest rates

Opinions vary on how many additional cuts the ECB could make in 2024. Some predict another reduction by the end of the year.but everything will depend on how macroeconomic data and the global economic situation develop.

The Governing Council has planned other four meetings for the remainder of 2024 for eurozone monetary policy decisions: 18 July, 12 September, 17 October and 12 December.