21-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. As indicated by ECB's statistics computed on AAA bonds, the instantaneous forward rate on euro-area government bonds at the 21-year maturity was 3.53 percent on 13 November 2025, versus 3.48 on the previous day.
Sample. There are 5,418 data points in the daily series presented in the plot above. The series covers the span of time stretching from September 2004 to November 2025.
History. Here's a peek at some simple statistics we calculated on the full sample: the forward rate reached a trough of -0.29 percent on 12 March 2020; it reached a maximum of 5.55 on 22 September 2008; it had a mean value of 2.71.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-11-11 | 3.5116 |
| 2025-11-12 | 3.48 |
| 2025-11-13 | 3.5286 |
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Series Metadata
| Field | Value |
|---|---|
| Description | 21-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 |