Forecast Snapshot

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

Forecasts as of September 23, 2022 for Latin America and September 12, 2022 for all other countries.

Real GDP

  2020 2021 2022(F) 2023(F)
  (annual % change)
Canada -5.2 4.5 3.1 1.0
United States -3.4 5.7 1.8 0.9
Mexico -8.2 4.8 1.9 1.5
United Kingdom -9.3 7.4 3.2 -0.5
Eurozone -6.3 5.5 3.0 -0.5
China 2.3 8.1 3.5 5.2
Japan -4.7 1.8 1.4 1.5
Colombia -7.0 10.9 6.6 2.9
Peru -11.0 13.5 2.8 2.4
Chile -6.0 12.0 2.1 -0.9

Policy Rates

  2020 2021 2022(F) 2023(F)
  (%, end of period)
Canada 0.25 0.25 3.75 3.75
United States 0.25 0.25 3.50 3.50
Mexico 4.25 5.50 10.25 9.50
United Kingdom 0.10 0.25 3.25 3.25
Eurozone 0.00 0.00 2.25 2.75
China 3.85 3.80 3.65 3.65
Japan -0.10 -0.10 -0.10 -0.10
Colombia 1.75 3.00 11.50 9.00
Peru 0.25 2.50 7.25 7.00
Chile 0.50 4.00 11.00
3.50

Foreign Exchange Rates

  2020 2021 2022(F) 2023(F)
  (end of period)
USDCAD 1.27 1.26 1.30 1.25
CADUSD 0.79 0.79 0.77 0.80
USDMXN 19.91 20.53 20.97 21.65
GBPUSD 1.37 1.35 1.15 1.22
EURUSD 1.22 1.14 0.95 1.05
USDCNY 6.53 6.36 6.80 6.60
USDJPY 103 115 140 133
USDCOP 3,430 4,080 4,315 4,288
USDPEN 3.62 4.00 3.95 3.95
USDCLP 712 852 870
800

Commodities

  2020 2021 2022(F) 2023(F)
  (annual average)
WTI 39 68 105 95
Brent 43 70 109 99
WCS - WTI Discount -12 -13 -15 -17
Nymex Natural Gas 2.02 3.84 5.73 4.32
Copper 2.80 4.23 4.00 3.75
Iron Ore 109 160 127 100
Gold 1,771 1,799 1,892 1,800

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