Euribor rates fell on Monday across three, six and twelve-month terms. The three-month rate dropped to 1.982%, slipping below 2% for only the second time since 6 November, and remains lower than the six-month rate (2.132%) and the twelve-month term. The decline suggests marginal easing in short-term money-market borrowing costs, with immediate implications for variable-rate mortgage holders and other borrowers, while signalling market expectations of slower near-term interest-rate pressure.