12-year instantaneous forward rate on government bonds (percentage points; nominal; interpolated; AAA rating) - Euro area - ECB - Daily
This series is part of the dataset: Euro-area government bond yield curves (ECB)
Download Full Dataset (.xlsx)Latest updates. As indicated by European Central Bank's statistics computed on AAA securities, the instantaneous forward rate on euro-area government bonds at the 12-year maturity was 3.84 percent on 24 September 2025, versus 3.82 on 23 September.
Sample. There are 5,382 observations in the daily time series presented in the figure above. The series covers the period stretching from September 2004 to September 2025.
History. Check out a few summary statistics we calculated on the full sample: the forward rate recorded a bottom of -0.32 percent on 10 March 2020; it hit a peak of 5.73 on 2 June 2009; it had an average value of 2.93.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-22 | 3.8594 |
| 2025-09-23 | 3.8196 |
| 2025-09-24 | 3.8356 |
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Series Metadata
| Field | Value |
|---|---|
| Description | 12-year rate ECB instantaneous forward yield curve (AAA bonds) |
| Country | Euro area |
| Economic concept | Interest rate |
| Data type | Constant-maturity nominal instantaneous forward rate on government bonds |
| Deflation method | Not applicable |
| Seasonally adjusted | No |
| Rescaling | None |
| Frequency | Daily |
| Unit | Percentage points |
| Source | European Central Bank |
| Source type | Central bank |
| Data licence | Free use subject to conditions |
| Measure type | Interpolated level |
Series in the same data set
Discover the other time series included in this data set.