Euribors now moved downward on Friday

The twelve-month Euribor, commonly used as a reference interest rate for Finnish mortgages, fell slightly on Friday

The twelve-month euribor fell to 2.709% from Thursday’s 2.733%.

Among the shorter interest rates, the six-month euribor fell to 2.554% from the previous 2.565%. The three-month euribor fell to 2.321% from Wednesday’s 2.335%.

The short-term market rates underlying the Euribor both follow and anticipate the European Central Bank’s policy rates. Expectations are influenced not only by the European economic situation but also by the global market outlook.

During the spring, the rise in oil prices caused by the Iranian crisis raised inflation expectations, and the European Central Bank raised key interest rates at its June meeting. During the spring and early summer, the coverage of the Iranian crisis has swayed inflation expectations and expectations of future central bank interest rate movements during the early summer.

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