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 computed on AAA-rated bonds, the instantaneous forward rate on euro-area government bonds at the 12-year maturity was 3.91 percent on 14 May 2026, versus 3.97 on the previous day.
Sample. There are 5,543 observations overall in the daily series shown in the plot above. The time span covered by the series extends from September 2004 to May 2026.
History. Here's a peek at some simple statistics calculated on the full sample: the forward rate had a mean value of 2.95 percent; it reached its minimum of -0.32 on 10 March 2020; it recorded a maximum of 5.73 on 2 June 2009.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2026-05-12 | 3.9693 |
| 2026-05-13 | 3.9665 |
| 2026-05-14 | 3.9132 |
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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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