Euribor in 2024: chart, averages and key events

In 2024, the Euro Interbank Offered Rate (Euribor) experienced a significant decline, marking its largest annual drop since 2012. The year commenced with the Euribor exceeding 3.6% and concluded with a December average of 2.43%. This downward trend provided substantial relief to holders of variable-rate mortgages and loans, leading to notable reductions in monthly payments.

The decline was primarily driven by interest rate cuts from central banks, aiming to stimulate economic activity amid lower inflation rates and challenges in the manufacturing sector, particularly within the eurozone. Analysts noted that the Euribor's decrease was more rapid than anticipated, with projections suggesting it could approach 2% by mid-2025.

Despite the overall downward movement, December witnessed a slowdown in the rate of decline. This deceleration was influenced by signals from the U.S. Federal Reserve indicating fewer interest rate cuts in the near future, which affected global financial markets.

Looking ahead, experts predict that while the Euribor may continue to decrease in 2025, the reductions are expected to be less pronounced compared to 2024. Fluctuations are anticipated, with periods of accelerated decline followed by phases of moderation, depending on economic conditions and monetary policy decisions.