Euribor, in free fall and without touching fund
24.11.2008
37 are already the consecutive days that the Euribor takes falling down non-stop, which places the valuation in 4,077 %. A this fact that was not remembered from February, 2007.
The principal reason of this one is still lowered is the application of the measured anticrises adopted as the governments of the European Union, although the most direct motive owes to the reduction of the interest rates of the money that there gives the European Central Bank (BCE) that has come to 3,25 %.
It seems, then, that the interbank market is begun calming and the confidence, appears again on the market although it is in small doses. As sample of it is necessary to emphasize that the differential between official types and Euribor has diminished greatly until 0,83 % marked the current one, still far from the historical average of 0,4 % but much more normal that the one that we had does many little, with 1,25 %.
The Euribor not only continues this tendency for the descents produced till now in the official interest rate but also for the expectations that exist of that it keeps on falling down. Most likely in the meeting of December 4, the BCE will cut away in other 0,5 %, leaving it in 2,75 %.
This information is a big mitigation for the mortgaged families that, in accordance with these expectations, they will see as they lower his monthly quotas. The November average is located in 4,43 % for lack of still 4 meetings, what makes foresee that it falls down up to 4,40 %. Since the average Euríbor of November of last year was of 4,60 % this a saving will suppose of apróximadamente approximately 20 Euros in the quota for those that have review this month.
Most of analysts place to the reference index below 4 % at the end of year, although personally I am more optimistic and venture that it might be below 3,25 %. This will suppose a strong stimulus for the consumers and also for the companies since both will see his charges relieved.
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