- GDP - Projection
- Inflation - Projection
Download forecasts with data and variable definitions
FORECASTS
|
Average for the last month in the period, unless otherwise specified | |||||||
|
Financial markets | |||||||
|
Average |
Average |
2021 |
2022 |
2023 |
2024 |
2025 | |
|
INTEREST RATES |
|||||||
|
Dollar | |||||||
|
Fed funds (upper limit) |
3.43 |
0.77 |
0.25 |
4.50 |
5.50 |
4.50 |
3.50 |
|
3-month SOFR |
3.62 |
0.99 |
0.21 |
4.74 |
5.37 |
3.85 |
2.85 |
|
12-month SOFR |
3.86 |
1.42 |
0.52 |
5.48 |
4.95 |
3.40 |
3.00 |
|
2-year government bonds |
3.70 |
0.99 |
0.66 |
4.30 |
4.46 |
3.40 |
2.80 |
|
10-year government bonds |
4.69 |
2.44 |
1.46 |
3.62 |
4.01 |
3.50 |
3.10 |
|
Euro | |||||||
|
ECB depo |
2.05 |
0.15 |
–0.50 |
1.77 |
4.00 |
3.00 |
2.25 |
|
ECB refi |
3.05 |
0.69 |
0.00 |
2.27 |
4.50 |
3.50 |
2.75 |
|
€STR |
– |
–0.55 |
–0.58 |
1.57 |
3.90 |
2.93 |
2.30 |
|
1-month Euribor |
3.18 |
0.42 |
–0.60 |
1.72 |
3.86 |
2.83 |
2.33 |
|
3-month Euribor |
3.24 |
0.57 |
–0.58 |
2.06 |
3.94 |
2.74 |
2.36 |
|
6-month Euribor |
3.29 |
0.70 |
–0.55 |
2.56 |
3.93 |
2.76 |
2.40 |
|
12-month Euribor |
3.40 |
0.86 |
–0.50 |
3.02 |
3.68 |
2.78 |
2.45 |
|
Germany | |||||||
|
2-year government bonds |
3.41 |
0.27 |
–0.69 |
2.37 |
2.55 |
1.90 |
2.00 |
|
10-year government bonds |
4.30 |
1.38 |
–0.31 |
2.13 |
2.11 |
2.00 |
2.20 |
|
Spain | |||||||
|
3-year government bonds |
3.62 |
1.53 |
–0.45 |
2.66 |
2.77 |
2.32 |
2.42 |
|
5-year government bonds |
3.91 |
2.01 |
–0.25 |
2.73 |
2.75 |
2.46 |
2.57 |
|
10-year government bonds |
4.42 |
2.96 |
0.42 |
3.18 |
3.09 |
2.90 |
3.00 |
|
Risk premium |
11 |
158 |
73 |
105 |
98 |
90 |
80 |
|
Portugal | |||||||
|
3-year government bonds |
3.68 |
3.05 |
–0.64 |
2.45 |
2.33 |
2.54 |
2.66 |
|
5-year government bonds |
3.96 |
3.63 |
–0.35 |
2.53 |
2.42 |
2.61 |
2.75 |
|
10-year government bonds |
4.49 |
4.35 |
0.34 |
3.10 |
2.74 |
2.80 |
3.00 |
|
Risk premium |
19 |
297 |
65 |
97 |
63 |
80 |
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 |
160.00 |
156.00 |
|
OIL PRICE | |||||||
|
Brent ($/barrel) |
42.3 |
77.3 |
74.8 |
81.3 |
77.3 |
78.0 |
73.0 |
|
Brent (euros/barrel) |
36.4 |
60.6 |
66.2 |
76.8 |
70.9 |
69.2 |
63.9 |
|
Forecasts | |||||||