The current ESTER rate is 3.9% as of 2023-10-05. You can find the latest ESTER rates analytics and data on MacroVar.
|Euribor 1 week||3.891%|
|Euribor 1 month||3.85%|
|Euribor 3 months||3.966%|
|Euribor 6 months||4.072%|
|Euribor 12 months||4.028%|
|Euribor Overnight (ESTER rate)||3.9%|
ESTER Rates Chart
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ESTER rate Historical Data
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What is the ESTER rate
ESTER is short for Euro Short-Term Rate. It is the 1-day interbank interest rate for the Euro zone, which is the average rate at which a group of financial institutions provide loans to each other with a duration of 1 day. The ESTER rate is published by the European Central Bank and has replaced the Eonia interest rate.ESTER rate details
The Euro Short-Term Rate (€STR) is quite the interesting topic! Let's break it down. The €STR is the new kid on the block in the world of interest rates. It's the euro area's risk-free overnight interest rate, which means it reflects the cost of borrowing money for a very short period without any credit risk.
The ESTER rate is determined based on transactions in the wholesale money markets and is published by the European Central Bank (ECB). It gives us a snapshot of the borrowing costs for banks within the eurozone and plays a crucial role in various financial transactions, from setting the pricing of financial products to influencing monetary policy decisions.
The €STR was introduced in October 2019 as part of the Eurosystem's efforts to provide a reliable and robust alternative to the previous benchmark, EONIA (Euro Overnight Index Average). The switch to €STR aligns with global initiatives to reform interest rate benchmarks and ensure financial stability.
The calculation of €STR takes into account actual transaction data, making it a more accurate reflection of market conditions. It's like peeking into the financial pulse of the eurozone.