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. According to ECB's statistics calculated on AAA bonds, the instantaneous forward rate on euro-area government bonds at the 12-year maturity was 3.85 percent on 12 February 2026, compared to 3.90 on 11 February.
Sample. There are 5,480 records overall in the daily time series shown in the chart above. The time period covered by the series stretches from September 2004 to February 2026.
History. Check out a few simple statistics we computed on the whole sample: the forward rate recorded a bottom of -0.32 percent on 10 March 2020; it reached its maximum of 5.73 on 2 June 2009; it had a mean value of 2.94.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-02-10 | 3.9246 |
| 2026-02-11 | 3.8997 |
| 2026-02-12 | 3.8504 |
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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 |
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