Euribor

Euribor stands for "Euro Interbank Offered Rate". It is the interest rate that banks in the euro zone (countries that use the euro currency) charge each other for loans. It is used to set the interest rates on mortgages, personal loans, car loans, credit card rates, and other types of loans. It is important to know the euribor rate, because it can affect how much you have to pay for things like a loan or a new car.