18-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-rated bonds, the instantaneous forward rate on euro-area government bonds at the 18-year maturity stood at 3.69 percent on 13 November 2025, compared to 3.65 on the previous day.
Sample. There are 5,418 records overall in the daily time series presented in the figure above. The series covers the period stretching from September 2004 to November 2025.
History. Here are a few simple statistics calculated on the entire sample: the forward rate registered a minimum of -0.27 percent on 12 March 2020; it achieved a maximum of 5.53 on 22 September 2008; it had an average value of 2.82.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-11-11 | 3.6635 |
| 2025-11-12 | 3.6523 |
| 2025-11-13 | 3.6858 |
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Series Metadata
| Field | Value |
|---|---|
| Description | 18-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 |