12-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. According to European Central Bank's statistics calculated on bonds across all ratings, the instantaneous forward rate on euro-area government bonds at the 12-year maturity was 4.39 percent on 13 November 2025, versus 4.38 on 12 November.
Sample. There are 5,418 records in the daily time series displayed in the plot above. The span of time covered by the series is from September 2004 to November 2025.
History. Here's a glimpse of a few simple statistics we computed on the whole sample: the forward rate was equal on average to 3.65 percent; it recorded its highest level of 6.28 on 15 November 2011; it reached its minimum of 0.61 on 15 December 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-11-11 | 4.4031 |
| 2025-11-12 | 4.3771 |
| 2025-11-13 | 4.3914 |
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Series Metadata
| Field | Value |
|---|---|
| Description | 12-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 |