Euribor Rates Soar to Multi-Month Highs After ECB Rate Hike

The European Central Bank (ECB) raised interest rates by 25 basis points on September 10, 2026, in an effort to combat inflation. This move led to a sharp increase in Euribor rates across three-month, six-month, and twelve-month maturities on Friday, September 11, 2026.

The six-month Euribor rate climbed to its highest level since November 2024, reaching 2.820 percent, while the twelve-month rate surged to a new peak since August 2024, hitting 3.160 percent.

This rapid escalation of Euribor rates has immediate fiscal consequences for domestic credit markets, particularly in southern European economies where floating-rate contracts dominate residential debt. In Portugal, six-month Euribor contracts represent 39.87 percent of total outstanding variable-rate mortgage debt, and twelve-month contracts account for 31.26 percent.