23-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. According to ECB's statistics computed on AAA-rated bonds, the instantaneous forward rate on euro-area government bonds at the 23-year maturity stood at 3.42 percent on 24 September 2025, versus 3.44 on 23 September.
Sample. There are 5,382 records overall in the daily time series presented in the graph above. The series covers the time range stretching from September 2004 to September 2025.
History. Take a look at some statistics calculated on the full sample: the forward rate reached its highest level of 5.55 percent on 22 September 2008; it reached a trough of -0.31 on 12 March 2020; it had a mean value of 2.64.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-22 | 3.4166 |
| 2025-09-23 | 3.4387 |
| 2025-09-24 | 3.4212 |
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Series Metadata
| Field | Value |
|---|---|
| Description | 23-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 |
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