Graph and download economic data for Interest Rates: Long-Term Government Bond Yields: 10-Year: Main (Including Benchmark) for Ireland (IRLTLT01IEM156N) from Dec 1970 to Feb 2025 about Ireland, long-term, 10-year, bonds, yield, government, interest rate, interest, and rate.

Ireland 10Y Bond Yield was 3.08 percent on Wednesday March 26, according to over-the-counter interbank yield quotes for this government bond maturity. Ireland 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on March of 2025.

The statistic shows the long-term government bond yields rate in Ireland from 2000 to 2024 as annual average values. In 2000, the average bond yield in Ireland amounted to 5.51 percent. That value has decreased overall to the level of 2.59 percent in 2024.

Ireland IE: Long-Term Interest Rate: Government Bonds: Single Hit Scenario data was reported at 0.024 % in Dec 2021. This stayed constant from the previous number of 0.024 % for Sep 2021. Ireland IE: Long-Term Interest Rate: Government Bonds: Single Hit Scenario data is updated quarterly, averaging 4.598 % from Mar 1990 to Dec 2021, with 128 observations. The data reached an all-time high of 11.067 % in Jun 2011 and a record low of -0.016 % in Mar 2020. Ireland IE: Long-Term Interest Rate: Government Bonds: Single Hit Scenario data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Ireland – Table IE.OECD.EO: Interest Rate: Forecast: OECD Member: Quarterly. IRL - Long-term interest rate on government bonds

The long-term interest rate on government debt is a key indicator of the economic health of a country. The rate reflects financial market actors' perceptions of the creditworthiness of the government and the health of the domestic economy, with a strong and robust economic outlook allowing governments to borrow for essential investments in their economies, thereby boosting long-term growth.

The Euro and converging interest rates in the early 2000s

In the case of many Eurozone countries, the early 2000s were a time where this virtuous cycle of economic growth reduced the interest rates they paid on government debt to less than 5 percent, a dramatic change from the pre-Euro era of the 1990s. With the outbreak of the Global Financial Crisis and the subsequent deep recession, however, the economies of Greece, Italy, Spain, Portugal, and Ireland were seen to be much weaker than previously assumed by lenders. Interest rates on their debt gradually began to rise during the crisis, before rapidly increasing beginning in 2010, as first Greece and then Ireland and Portugal lost the faith of financial markets.

The Eurozone crisis

This market adjustment was initially triggered due to revelations by the Greek government that the country's budget deficit was much larger than had been previously expected, with investors seeing the country as an unreliable debtor. The crisis, which became known as the Eurozone crisis, spread to Ireland and then Portugal, as lenders cut-off lending to highly indebted Eurozone members with weak fundamentals. During this period there was also intense speculation that due to unsustainable debt loads, some countries would have to leave the Euro currency area, further increasing the interest on their debt. Interest rates on their debt began to come back down after ECB Chief Mario Draghi signaled to markets that the central bank would intervene to keep the states within the currency area in his famous "whatever it takes" speech in Summer 2012.

The return of higher interest rates in the post-COVID era

Since this period of extremely high interest rates on government debt for these member states, the interest they are charged for borrowing has shrunk considerably, as the financial markets were flooded with "cheap money" due to the policy measures of central banks in the aftermath of the financial crisis, such as near-zero policy rates and quantitative easing. As interest rates have risen to combat inflation since 2022, so have the interest rates on government debt in the Eurozone also risen, however, these rises are modest compared to during the Eurozone crisis.

As of December 2024, Japan held United States treasury securities totaling about 1.06 trillion U.S. dollars. Foreign holders of United States treasury debt According to the Federal Reserve and U.S. Department of the Treasury, foreign countries held a total of 8.5 trillion U.S. dollars in U.S. treasury securities as of December 2024. Of the total held by foreign countries, Japan and Mainland China held the greatest portions, with China holding 759 billion U.S. dollars in U.S. securities. The U.S. public debt In 2023, the United States had a total public national debt of 33.2 trillion U.S. dollars, an amount that has been rising steadily, particularly since 2008. In 2023, the total interest expense on debt held by the public of the United States reached 678 billion U.S. dollars, while 197 billion U.S. dollars in interest expense were intra governmental debt holdings. Total outlays of the U.S. government were 6.1 trillion U.S. dollars in 2023. By 2029, spending is projected to reach 8.3 trillion U.S. dollars.

The ratio of national debt to gross domestic product (GDP) in Ireland was forecast to continuously decrease between 2024 and 2029 by in total 6.4 percentage points. After the sixth consecutive decreasing year, the ratio is estimated to reach 35.92 percent and therefore a new minimum in 2029. This indicator describes the general government gross debt in relation to the country's GDP. According to the International Monetary Fund, gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. The GDP, on the other hand, refers to the total value of final goods and services produced during a year.Find more statistics on other topics about Ireland with key insights such as the share in the global GDP adjusted for purchasing power parity, the total population, and the number of employed people.