Euribor is a shortened version of Euro Interbank Offered Rate. The Euribor rates are based on the average interest rate which a large selection of banks in Europe borrow funds from one another. There are different intervals, ranging from a week to a year.
Considered by many the Euribor rates the most significant reference rates for the European money market. The interest rates do provide the basis for the price and interest rates of all types of financial products for example interest rate futures, interest rate swaps, saving accounts and mortgages. This is the main reason why many professionals in addition to individuals constantly monitor the development of the Euribor rates so intensively.