23-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 computed on AAA-rated bonds, the instantaneous forward rate on euro-area government bonds at the 23-year maturity was 3.69 percent on 29 December 2025, as on 24 December 2025.
Sample. There are 5,448 records overall in the daily time series shown in the figure above. The time range covered by the series extends from September 2004 to December 2025.
History. Here are some simple statistics calculated on the full sample: the forward rate had an average value of 2.64 percent; it reached a maximum of 5.55 on 22 September 2008; it reached a trough of -0.31 on 12 March 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-12-23 | 3.7055 |
| 2025-12-24 | 3.6864 |
| 2025-12-29 | 3.6908 |
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Series Metadata
| Field | Value |
|---|---|
| Description | 23-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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