• GDP - Projection
  • Inflation - Projection
      Update date 12-02-2024
          Update date 12-02-2024

          Download forecasts with data and variable definitions

            FORECASTS

            Average for the last month in the period, unless otherwise specified

            Financial markets

            Average
            2000-2007

            Average
            2008-2020

            2021

            2022

            2023

            2024

            2025

            INTEREST RATES

            Dollar

            Fed funds (upper limit)

            3.43

            0.77

            0.25

            4.50

            5.50

            4.25

            2.50

            3-month SOFR

            3.62

            0.99

            0.21

            4.74

            5.37

            3.85

            2.40

            12-month SOFR

            3.86

            1.42

            0.52

            5.48

            4.95

            3.15

            2.80

            2-year government bonds

            3.70

            0.99

            0.66

            4.30

            4.46

            2.80

            2.50

            10-year government bonds

            4.69

            2.44

            1.46

            3.62

            4.01

            3.10

            3.00

            Euro

            ECB depo

            2.05

            0.15

            –0.50

            1.77

            4.00

            3.50

            2.50

            ECB refi

            3.05

            0.69

            0.00

            2.27

            4.50

            4.00

            3.00

            €STR

            –0.55

            –0.58

            1.57

            3.90

            3.45

            2.55

            1-month Euribor

            3.18

            0.42

            –0.60

            1.72

            3.86

            3.19

            2.48

            3-month Euribor

            3.24

            0.57

            –0.58

            2.06

            3.94

            2.94

            2.40

            6-month Euribor

            3.29

            0.70

            –0.55

            2.56

            3.93

            3.00

            2.43

            12-month Euribor

            3.40

            0.86

            –0.50

            3.02

            3.68

            3.06

            2.45

            Germany

            2-year government bonds

            3.41

            0.27

            –0.69

            2.37

            2.55

            2.50

            2.25

            10-year government bonds

            4.30

            1.38

            –0.31

            2.13

            2.11

            2.60

            2.50

            Spain

            3-year government bonds

            3.62

            1.53

            –0.45

            2.66

            2.77

            2.82

            2.67

            5-year government bonds

            3.91

            2.01

            –0.25

            2.73

            2.75

            2.99

            2.83

            10-year government bonds

            4.42

            2.96

            0.42

            3.18

            3.09

            3.60

            3.30

            Risk premium

            11

            158

            73

            105

            98

            100

            80

            Portugal

            3-year government bonds

            3.68

            3.05

            –0.64

            2.45

            2.33

            3.04

            2.93

            5-year government bonds

            3.96

            3.63

            –0.35

            2.53

            2.42

            3.14

            3.03

            10-year government bonds

            4.49

            4.35

            0.34

            3.10

            2.74

            3.45

            3.30

            Risk premium

            19

            297

            65

            97

            63.00

            85.00

            80

            EXCHANGE RATES

            EUR/USD (dollars per euro)

            1.13

            1.26

            1.13

            1.06

            1.09

            1.12

            1.15

            EUR/GBP (pounds per euro)

            0.66

            0.84

            0.85

            0.87

            0.86

            0.83

            0.87

            EUR/JPY (yen per euro)

            129.56

            126.06

            128.82

            142.85

            156.99

            158.00

            146.00

            OIL PRICE

            Brent ($/barrel)

            42.3

            77.3

            74.8

            81.3

            77.3

            79.0

            73.0

            Brent (euros/barrel)

            36.4

            60.6

            66.2

            76.8

            70.9

            70.5

            63.5

            Forecasts

            Update date 12-02-2024