Forecast Snapshot

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

Forecasts as of June 2, 2023 for Latin America and May 18, 2023 for all other countries.

Real GDP

  2021 2022(E) 2023(F) 2024(F)
  (annual % change)
Canada 5.0 3.4 1.0 1.1
United States 5.9 2.1 1.2 0.6
Mexico 4.7 3.0 1.6 1.3
United Kingdom 7.6 4.1 0.2 0.9
Eurozone 5.6 3.5 0.5 1.1
China 8.4 3.0 5.6 5.0
Japan 2.3 1.0 1.0 1.1
Colombia 11.0 7.3 1.8 2.6
Peru 13.3 2.7 1.9 2.2
Chile 11.7 2.4 -0.8 2.8

Policy Rates

  2021 2022 2023(F) 2024(F)
  (%, end of period)
Canada 0.25 4.25 4.75 3.25
United States 0.25 4.50 5.25 3.50
Mexico 5.50 10.50 11.00 8.25
United Kingdom 0.25 3.50 4.50 3.50
Eurozone 0.00 2.50 4.25 3.50
China 3.80 3.65 4.35 4.35
Japan -0.10 -0.10 -0.10 -0.10
Colombia 3.00 12.00 12.25 5.75
Peru 2.50 7.50 7.25 5.25
Chile 4.00 11.25 7.50
3.75

Foreign Exchange Rates

  2021 2022
2023(F) 2024(F)
  (end of period)
USDCAD 1.26 1.36 1.30 1.25
CADUSD 0.79 0.74 0.77 0.80
USDMXN 20.53 19.50 18.30 20.20
GBPUSD 1.35 1.21 1.25 1.28
EURUSD 1.14 1.07 1.10 1.12
USDCNY 6.36 6.90 6.70 6.65
USDJPY 115 131 130 125
USDCOP 4,080 4,853 4,726 4,823
USDPEN 4.00 3.81 3.85 3.85
USDCLP 852 851 830
850

Commodities

  2021 2022 2023(F) 2024(F)
  (annual average)
WTI 68 95 78 76
Brent 70 101 83 80
WCS - WTI Discount -13 -19 -19 -17
Nymex Natural Gas 3.84 6.61 2.79 3.75
Copper 4.23 4.00 4.00 4.00
Iron Ore 160 121 111 90
Gold 1,799 1,803 1,904 1,900

These reports are in PDF format and require Adobe® Acrobat® Reader™ (version 4.0 or higher) to be viewed. If you do not have the Reader, you can download it for free from the Adobe website.