Spanish Business News

The 12 month Euribor closed the week at 1.944%, just shy of the 2% mark as the ECB prepares to raise Euro Zone interest rates.  This rise may come as soon as April according to analysts.  For comparison, the Euribor was just 1.504% at the beginning of January 2011.

The 12 month Euribor rate is used to set the cost of the majority of Spanish mortgages as well as corporate loans, so more hardship on the way for Spanish households as mortages get more expensive.