Last week, the European Central Bank (ECB) decided to keep the key interest rates unchanged after a first cut last June ’24. This brought instability on the financial markets, with fear of recession, which is causing a decrease of the short-term fixed rates mainly this week. Eurostat announces a rather stable unemployment rate in the EU since the beginning of the year, and a light increase if the inflation lately and these are the main reasons why the key rates were kept at the same level. The Euribor 3m p.ex. is continuously decreasing since the peak last October ’23 (>40 bps difference) and will probably lead again to a “non-event” when the ECB will come with a new cut this autumn, the floating rates for home loans in Luxembourg should shortly be reduced by most banks.