• GDP - Historical
  • GDP - Projection
  • Inflation - Historical
  • Inflation - Projection
Update date 07-09-2020
      Update date 07-09-2020
      Update date 07-09-2020
          Update date 07-09-2020

          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

            2008-2017

            2018

            2019

            2020

            2021

            2022

            2023

            INTEREST RATES

            Dollar

            Fed funds (upper limit)

            3.43

            0.55

            2.50

            1.75

            0.25

            0.25

            0.25

            0.25

            3-month Libor

            3.62

            0.75

            2.79

            1.91

            0.30

            0.30

            0.35

            0.45

            12-month Libor

            3.86

            1.26

            3.08

            1.97

            0.60

            0.60

            0.70

            0.95

            2-year government bonds

            3.70

            0.80

            2.68

            1.63

            0.30

            0.30

            0.50

            0.80

            10-year government bonds

            4.70

            2.58

            2.83

            1.86

            0.95

            1.00

            1.20

            1.40

            Euro

            ECB depo

            2.05

            0.32

            –0.40

            –0.50

            –0.50

            –0.50

            –0.50

            –0.50

            ECB refi

            3.05

            0.90

            0.00

            0.00

            0.00

            0.00

            0.00

            0.00

            Eonia

            3.12

            0.55

            –0.36

            –0.46

            –0.45

            –0.45

            –0.45

            –0.45

            1-month Euribor

            3.18

            0.67

            –0.37

            –0.45

            –0.45

            –0.45

            –0.43

            –0.35

            3-month Euribor

            3.24

            0.85

            –0.31

            –0.40

            –0.45

            –0.45

            –0.40

            –0.25

            6-month Euribor

            3.29

            1.00

            –0.24

            –0.34

            –0.40

            –0.40

            –0.35

            –0.18

            12-month Euribor

            3.40

            1.19

            –0.13

            –0.26

            –0.35

            –0.35

            –0.30

            –0.10

            Germany

            2-year government bonds

            3.41

            0.55

            –0.60

            –0.63

            –0.60

            –0.50

            –0.45

            –0.30

            10-year government bonds

            4.30

            1.82

            0.25

            –0.27

            –0.30

            –0.15

            0.00

            0.40

            Spain

            3-year government bonds

            3.62

            2.06

            –0.02

            –0.36

            0.06

            0.22

            0.26

            0.47

            5-year government bonds

            3.91

            2.59

            0.36

            –0.09

            0.21

            0.38

            0.44

            0.66

            10-year government bonds

            4.42

            3.60

            1.42

            0.44

            0.60

            0.65

            0.70

            0.90

            Risk premium

            11

            178

            117

            71

            90

            80

            70

            50

            Portugal

            3-year government bonds

            3.68

            4.02

            –0.18

            –0.34

            0.17

            0.33

            0.38

            0.61

            5-year government bonds

            3.96

            4.67

            0.47

            –0.12

            0.39

            0.53

            0.59

            0.84

            10-year government bonds

            4.49

            5.35

            1.72

            0.40

            0.65

            0.75

            0.80

            1.10

            Risk premium

            19

            353

            147

            67

            95

            90

            80

            70

            EXCHANGE RATES

            EUR/USD (dollars per euro)

            1.13

            1.29

            1.14

            1.11

            1.18

            1.20

            1.22

            1.24

            EUR/JPY (yen per euro)

            129.50

            126.40

            127.89

            121.40

            125.40

            128.40

            130.54

            127.72

            USD/JPY (yen per dollar)

            115.34

            98.97

            112.38

            109.25

            106.27

            107.00

            107.00

            103.00

            EUR/GBP (pounds per euro)

            0.66

            0.83

            0.90

            0.85

            0.91

            0.91

            0.90

            0.93

            USD/GBP (pounds per dollar)

            0.59

            0.64

            0.79

            0.76

            0.77

            0.76

            0.74

            0.75

            OIL PRICE

            Brent ($/barrel)

            42.3

            82.5

            57.7

            65.2

            42.0

            55.0

            60.0

            62.0

            Brent (euros/barrel)

            36.4

            63.2

            50.7

            58.6

            35.6

            45.8

            49.2

            50.0

            Forecasts