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. Based on European Central Bank's statistics computed on AAA-rated securities, the instantaneous forward rate on euro-area government bonds at the 23-year maturity was 3.35 percent on 30 September 2025, compared to 3.32 on 29 September 2025.
Sample. The daily time series shown in the plot has 5,386 observations in total. The series covers the period going from September 2004 to September 2025.
History. Have a look at some descriptive statistics calculated on the full sample: the forward rate had a mean value of 2.64 percent; it reached a trough of -0.31 on 12 March 2020; it recorded its maximum of 5.55 on 22 September 2008.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-09-26 | 3.3864 |
| 2025-09-29 | 3.3245 |
| 2025-09-30 | 3.3541 |
Suggestion. To simplify exploration, we organize indicators into data sets and worksheets. When you look below, you will find how we arranged further information related to the statistics published here.
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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 |