18-year instantaneous forward rate on government bonds (percentage points; nominal; interpolated; all ratings) - 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 securities across all ratings, the instantaneous forward rate on euro-area government bonds at the 18-year maturity was 4.52 percent on 24 September 2025, the same value recorded on the previous day.
Sample. There are 5,382 observations overall in the daily series shown in the figure above. The span of time covered by the series is from September 2004 to September 2025.
History. Here are some simple statistics we computed on the entire sample: the forward rate recorded a bottom of 0.89 percent on 11 March 2020; it attained a maximum of 6.30 on 15 November 2011; it had an average value of 3.67.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-22 | 4.5479 |
| 2025-09-23 | 4.5225 |
| 2025-09-24 | 4.5247 |
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Series Metadata
| Field | Value |
|---|---|
| Description | 18-year rate ECB instantaneous forward yield curve (all 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 |
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