Indicators and forecasts


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Tables


FORECASTS

Financial markets

Average

2000-2007

Average

2008-2015

2016

2017

2018

2019

2020

INTEREST RATES

Dollar

Fed funds

3.43

0.48

0.64

1.39

2.50

3.00

3.25

3-month Libor

3.62

0.69

0.98

1.61

2.80

3.29

3.20

12-month Libor

3.86

1.18

1.67

2.05

3.10

3.41

3.25

2-year government bonds

3.70

0.72

1.18

1.84

3.00

3.42

3.30

10-year government bonds

4.70

2.70

2.49

2.41

3.35

3.75

3.55

Euro

ECB depo

2.05

0.50

–0.40

–0.40

–0.40

–0.20

0.25

ECB refi

3.05

1.13

0.00

0.00

0.00

0.25

0.75

Eonia

3.12

0.77

–0.35

–0.34

–0.35

–0.10

0.40

1-month Euribor

3.18

0.93

–0.37

–0.37

–0.34

–0.08

0.42

3-month Euribor

3.24

1.13

–0.32

–0.33

–0.32

–0.04

0.44

6-month Euribor

3.29

1.30

–0.22

–0.27

–0.22

0.12

0.62

12-month Euribor

3.40

1.51

–0.08

–0.19

–0.12

0.27

0.79

Germany

2-year government bonds

3.41

0.85

–0.76

–0.69

–0.45

0.08

0.73

10-year government bonds

4.30

2.21

0.29

0.35

0.70

1.26

1.96

Spain

3-year government bonds

3.62

2.59

–0.13

–0.04

0.06

0.70

1.45

5-year government bonds

3.91

3.16

0.30

0.31

0.50

1.13

1.86

10-year government bonds

4.42

4.13

1.43

1.46

1.50

2.01

2.66

Risk premium

11

192

114

110

80

75

70

Portugal

3-year government bonds

3.68

4.85

0.76

–0.05

0.08

0.83

1.74

5-year government bonds

3.96

5.42

2.05

0.46

0.73

1.41

2.24

10-year government bonds

4.49

5.90

3.75

1.84

1.95

2.46

3.11

Risk premium

19

369

346

149

125

120

115

EXCHANGE RATES

EUR/USD

1.13

1.33

1.05

1.18

1.21

1.23

1.24

EUR/JPY

129.50

127.13

122.41

133.70

131.89

129.15

127.72

USD/JPY

115.34

96.09

116.06

113.02

109.00

105.00

103.00

EUR/GBP

0.66

0.83

0.85

0.88

0.87

0.86

0.84

USD/GBP

0.59

0.62

0.80

0.75

0.72

0.70

0.68

OIL PRICE

Brent ($/barrel)

42.32

90.70

54.92

64.09

68.00

66.00

66.00

Brent (euros/barrel)

36.35

67.78

52.10

54.17

56.20

53.66

53.23

Note: The figures correspond to the average for the last month in the period, unless otherwise specified.

         Forecasts

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