The Euribor is, today, the economic reference most looked by all, so much for those who are indebted as for those who have in mind to carry out some financial project. And the fact is that after all the Euribor is the big reference at the time of appraising the costs of any credit and borrowing operation that is signed by a Financial institution.
We already had the occasion to speak in detail on how it is calculated and what is the Euribor, although to sum up, we will remind to you that this economic concept represents the interest rate to which they give themselves money the different European Financial institutions between themselves, and who it form two principal variables: the official price of the money, marked by the BCE as his economic policy, and the valuation of risk that the different Entities apply to themselves between themselves.
Knowing ésto, and knowing that is the principal reference to determine the interest that they will receive from us for our loans and credits and the one that will give us for our savings, and bearing in mind the current economic crisis and the tightness for which they spend a the majority of the Spanish, it is therefore the eyes turn increasingly towards the Euribor. After all, an increase of this one will mean that we will have to pay more every month and vice versa.
During the majority of 2008 we have turned out to be wrapped in an increasing spiral of the interest rate that seemed to have no end. Nevertheless, from October, it has already accumulated enough consecutive meetings of descents that it it has placed in 3,951 % of last Friday, from the maxima that it came to the acanzar in the environment of 5,4 %.
Why are you lowered? first of all, the last ones and more strong increases that the index had it owed especially to the insecurity that existed between the proper banks to give him the money, what did that the risk valuation was rising, and let's remember that this was one of ls variables that they affect to the index. After those first moments in which it was known that the different Governments were going to support the solvency of the different Entities, this interbank tension relaxed, and this risk valuation began to go down. At the same time, the first decisions came from the Central banks in the shape of reductions of the price of the money.
It is necessary to remember that to reactivate the economy, the descent of the interest rates takes the Central banks as one of the propitious hardware. At present, the economic policy of the BCE is the same as, precisely, doing that the economy is relaunched, for what one hopes that it should continue this tendency to keep on lowering the interest rates.
In parallel it is of hoping that they should be relax increasingly and moving away the doubts against the solvencies of the Banks, therefore also the risk valuation should go going down.
Jointly, everything does that the economists hope that during 2009 the Euribor should continue with his descent. This way they it affirm even from the Institute of Official Credit (ICO) who ventures that the types might come up to 1,9 % in one year.
This way, probably those who have a mortgage it is possible that they breathe a little during the year 2009.
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