Forecast Snapshot

See the latest forecasts for real GDP, policy rates, foreign exchange rates and commodities.

Forecasts as of September 3, 2020.

Real GDP

  2019(e) 2020(F) 2021(F)
  (annual % change)
Canada 1.7 -5.7 4.8
United States 2.2 -4.2 4.4
Mexico -0.3 -9.1 3.0
United Kingdom 1.5 -9.5 6.1
Eurozone 1.3 -8.3 5.3
China 6.1 2.1 8.5
Japan 0.7 -4.9 2.5
Colombia 3.3 -7.5 5.0
Peru 2.2 -11.5 8.7
Chile 1.1 -5.2 5.1

Policy Rates

  2019 2020(F) 2021(F)
  (%, end of period)
Canada 1.75 0.25 0.25
United States 1.75 0.25 0.25
Mexico 7.25 4.50 4.50
United Kingdom 0.75 0.10 0.10
Eurozone 0.00 0.00 0.00
China 4.15 3.85 3.85
Japan -0.10 -0.10 -0.10
Colombia 4.25 2.00 3.00
Peru 2.25 0.25 0.50
Chile 1.75 0.50 0.50

Foreign Exchange Rates

  2019 2020(F) 2021(F)
  (%, end of period)
USDCAD 1.30 1.32 1.28
CADUSD 0.77 0.76 0.78
USDMXN 18.93 23.84 24.49
GBPUSD 1.33 1.29 1.33
EURUSD 1.12 1.18 1.21
USDCNY 6.96 7.05 6.90
USDJPY 109 105 102
USDCOP 3,287 3,654 3,450
USDPEN 3.31 3.45 3.40
USDCLP 753 750 720

Commodities

  2019 2020(F) 2021(F)
  (annual average)
WTI 57 41 50
Brent 64 45 53
WCS - WTI Discount -14 -14 -15
Nymex Natural Gas 2.53 1.93 2.50
Copper 2.72 2.75 3.00
Iron Ore 94 87 70
Gold 1,393 1,650 1,700

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