Interbank fee impact on breakage fee

Hello,

I came here after reading mention of the help this forum provided in stopping customers being ripped off on breakage fees from AIB:


I'm wondering if the same is happening to myself please?
Ulster Bank twice, at the end of 2019 and again at the start of 2020, quoted me over €4800 to break out of the remaining 4 years of a 7 year fixed rate at 3.9%.

The article linked above mentioned this is the same steep amount AIB was trying, and then once highlighted here, it was brought down to under €1k.

I've tried figuring out how it works myself while reading these posts but I still don't quite understand. Does a lower interbank fee number mean a lower break fee? Or the opposite please?
Is there a good source to see this interbank rate on a daily basis so I can call to break at the right time please?

I can see here a chart for 1 year that shows it went up at the start of the year:


Thank you for your time.

Cheerio,
Cormac

So on further research I came across LIBOR and DIBOR and how we now use EURIBOR.

So I guess I need to keep an eye out for EURIBOR rate instead.

Hi Cormac,
Take a look here: https://www.askaboutmoney.com/threads/understanding-fixed-rates-breakage-costs.204427/

Hi
RedOnion


Sorry I thought I had replied to this ages ago to thank you for your response. I appreciate it. I realise I missed a big opportunity to break out free in March/April when the 3 month Euribor rate spiked. Oh well I'll keep an eye on it from now on! Thanks again!

I know how long is a piece of string. But where do people see the Euribor rate moving in the next six months?