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. Based on ECB's statistics calculated on AAA-rated bonds, the instantaneous forward rate on euro-area government bonds at the 12-year maturity stood at 3.94 percent on 12 November 2026, compared to 3.93 on 11 November 2026.
Sample. In the daily series presented in the chart, there are 5,673 observations in total. The series covers the period going from September 2004 to November 2026.
History. Here are some statistics calculated on the whole sample: the forward rate hit a trough of -0.32 percent on 10 March 2020; it achieved a maximum of 5.73 percent on 2 June 2009; it had an average value of 2.98 percent.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-11-10 | 3.90100 |
| 2026-11-11 | 3.92570 |
| 2026-11-12 | 3.94180 |
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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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