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Belgrade – Judging by the bankers’ forecasts, no significant growth of the Euribor should be expected in the coming years either, says UBS Secretary General Vladimir Vasi,
Source: Tanjug
Photo: Depositphotos, JanPietruszka
The low level of this European interbank interest rate is especially suitable for citizens who have taken out mortgage loans indexed to euros, as it does not increase the loan installment.
According to Vasi, in the next three or four years, the value of the Euribor could remain very low.
“The Euribor has been falling for years, and now it is negative, which is in the best interest of the economy and the citizens whose loans are tied to it. Of course, as it goes down, it can grow, but I personally do not expect that to happen in the next three or four years, at least not in a more noticeable way ”, says Vasi.
He says that even if there is an increase, it will not be sudden, but gradual.
“I certainly do not expect big swings and the Euribor, for example, to return to the level of four to five percent, as it was ten years ago,” Vasi said.
As Tanjug was previously told at the National Bank of Serbia, about 65 percent of the value of domestic loans is indexed or approved in euros, and 43 percent of them are linked to Euribor. It has a greater impact on corporate loans, as 83 percent of corporate loans are indexed to the euro and 44 percent of retail loans, where home loans are the majority.
The NBS stated that it is difficult to estimate how the Euribor will advance, because it depends on supply and demand. However, they explained that their movement will depend mainly on the policy of the European Central Bank and to what extent it will pursue an expansionary monetary policy.
Euribor is the European interbank interest rate, which is actually the interest rate at which top-class European banks lend money to each other on the interbank market.
Banks in our country use the Euribor as the reference interest rate, that is, the basis in the structure of the nominal interest rate when calculating the interest rates on loans indexed in euros. Euribor is offered for three and six months. Its value is calculated daily.
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