Forecast Snapshot

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

Forecasts as of June 5, 2020.

Real GDP

  2019(e) 2020(F) 2021(F)
  (annual % change)
Canada 1.7 -7.3 6.6
United States 2.3 -4.5 6.7
Mexico -0.3 -8.4 1.1
United Kingdom 1.4 -8.0 6.2
Eurozone 1.2 -8.1 5.0
China 6.1 1.6 8.5
Japan 0.7 -3.8 2.3
Colombia 3.3 -4.9 4.2
Peru 2.2 -9.0 7.0
Chile 1.1 -4.5 2.9

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 4.75 4.75
United Kingdom 0.75 0.10 0.10
Eurozone 0.00 0.00 0.00
China 4.15 3.75 3.75
Japan -0.10 -0.10 -0.10
Colombia 4.25 2.50 3.50
Peru 2.25 0.25 0.50
Chile 1.75 0.50 1.50

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 24.29 24.20
GBPUSD 1.33 1.28 1.32
EURUSD 1.12 1.12 1.16
USDCNY 6.96 7.10 6.90
USDJPY 109 107 105
USDCOP 3,287 3,654 3,450
USDPEN 3.31 3.45 3.40
USDCLP 753 790 720

Commodities

  2019 2020(F) 2021(F)
  (annual average)
WTI 57 37 44
Brent 64 41 47
WCS - WTI Discount -14 -10 -16
Nymex Natural Gas 2.53 1.95 2.40
Copper 2.72 2.25 2.75
Iron Ore 94 77 70
Gold 1,393 1,650 1,700

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