Euribor Falls to New Record Low

20 August 2019

The 12-month Euribor benchmark interest rate, which is used as a reference to set Spanish mortgages rates, fell to a new low of -0.398% last week. The rate first fell into negative territory in February 2016, as the European Central Bank’s (ECB) policy of quantitative easing looked to boost the Eurozone economy.

Euribor seemed to have hit bottom in March 2018, at -0.191%, when analysts began predicts gradual increases in the rate until potentially hitting zero in 2019. However, after rising to -0.108% in February, Euribor began falling again due to fears that the growth in the Eurozone was once again faltering.

Original Story: El Confidencial

Adaptation/Translation: Richard D. K. Turner

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