Forecast Snapshot

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

Forecasts as of June 24, 2022 for Latin America and June 9, 2022 for all other countries.

Real GDP

  2020 2021 2022(F) 2023(F)
  (annual % change)
Canada -5.2 4.5 3.8 2.6
United States -3.4 5.7 2.6 2.4
Mexico -8.2 4.8 1.7 1.9
United Kingdom -9.3 7.4 3.7 1.2
Eurozone -6.5 5.6 2.6 2.3
China 2.3 8.1 4.5 5.2
Japan -4.7 1.8 2.0 1.8
Colombia -7.0 10.9 6.3 2.9
Peru -11.0 13.5 2.6 2.4
Chile -6.0 12.0 3.0 0.0

Policy Rates

  2020 2021 2022(F) 2023(F)
  (%, end of period)
Canada 0.25 0.25 3.00 3.00
United States 0.25 0.25 3.00 3.00
Mexico 4.25 5.50 10.00 9.50
United Kingdom 0.10 0.25 1.75 2.00
Eurozone 0.00 0.00 1.00 1.75
China 3.85 3.80 3.65 3.65
Japan -0.10 -0.10 -0.10 -0.10
Colombia 1.75 3.00 8.50 6.00
Peru 0.25 2.50 5.75 5.75
Chile 0.50 4.00 8.75
3.50

Foreign Exchange Rates

  2020 2021 2022(F) 2023(F)
  (end of period)
USDCAD 1.27 1.26 1.20 1.23
CADUSD 0.79 0.79 0.83 0.81
USDMXN 19.91 20.53 20.97 22.08
GBPUSD 1.37 1.35 1.25 1.29
EURUSD 1.22 1.14 1.10 1.12
USDCNY 6.53 6.36 6.60 6.40
USDJPY 103 115 125 116
USDCOP 3,428 4,065 3,960 3,951
USDPEN 3.62 4.00 3.80 3.70
USDCLP 711 852 820
750

Commodities

  2020 2021(F) 2022(F) 2023(F)
  (annual average)
WTI 39 68 103 95
Brent 43 70 108 99
WCS - WTI Discount -12 -13 -14 -16
Nymex Natural Gas 2.02 3.84 5.29 4.32
Copper 2.80 4.23 4.50 4.50
Iron Ore 109 160 125 100
Gold 1,771 1,799 1,900 1,800

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