Question on Euribor/SOFR fwd curve

I was doing some work on interbank rates fwd curves, especially the euribor, and i noticed that 3-month euribor expectation for June 2023 is c.2.4%. I mean, where to even start. How do I take this seriously? I understand it is not a risk free measure but is the market really expecting that in 12 months you'll be able to lend 3 month money and get 2.4% back as interest? Like, come on. 

 

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