Last week Euribor rates reached the lowest value ever, with maturities, of tree, six, and twelve-month.
The Euribor rates (Euro Interbank Offered Rate), are calculated by the average interest rates at which 57 European banks borrow funds from one to another.
There are 5 different Euribor rates, with different maturities, and they are updated daily.
Euribor maturities of: 1 Week, 1 month, 3 months, 6 months and 12 months)
These rates are considered to be the most important reference rates in the European finance market, as they provide the calculation for the price or interest rate of all kinds of financial products, saving accounts and mortgages.
Since 2015, Euribor rates, with maturities of three, six, and twelve-month, went into negative territory.
It means in effect Banks are being paid to borrow someone else's money !!!