Six- and 12-month Euribor rates reached peak levels following the European Central Bank's interest rate hike. This movement reflects the direct impact of ECB monetary policy decisions on the cost of credit in the eurozone.
Eurozone banks are the primary affected by these fluctuations, as Euribor serves as a reference for numerous financial products, including mortgages and business loans.
Euribor rates are calculated as the average of the rates at which a panel of 21 eurozone banks is willing to lend money to each other in the interbank market. This rate-setting mechanism means that Euribor values respond to liquidity conditions and the expectations of the major European banks.
