Forecasts
Our global economic and financial forecasts
Find out what our economists and strategists are expecting over coming quarters.
Latest forecast update: 18 March 2024
Growth (GDP)
QoQ% Annualised | 4Q23F | 1Q24F | 2Q24F | 3Q24F | 2023F | 2024F | 2025F |
---|---|---|---|---|---|---|---|
US | 3.2 | 2.4 | 1.4 | -0.7 | 2.5 | 2.1 | 1.2 |
Japan | -0.4 | 2.8 | 2.8 | 2.0 | 1.9 | 1.3 | 1.3 |
Germany | -1.1 | -0.6 | 0.3 | 1.1 | -0.3 | -0.2 | 1.0 |
France | -0.1 | 0.0 | 0.8 | 1.4 | 0.9 | 0.5 | 1.3 |
UK | -1.4 | 1.2 | 0.8 | 1.2 | 0.1 | 0.4 | 1.2 |
Italy | 0.6 | 0.3 | 0.8 | 1.3 | 0.7 | 0.5 | 1.0 |
Canada | 1.0 | 0.4 | 4.0 | 0.4 | 1.1 | 0.5 | 1.5 |
Australia | 1.2 | 1.6 | 1.2 | 2.0 | 2.0 | 1.5 | 2.5 |
Eurozone | 0.1 | 0.3 | 0.9 | 1.2 | 0.5 | 0.4 | 1.4 |
Austria | 0.8 | 0.6 | 0.8 | 1.4 | -0.7 | 0.0 | 1.5 |
Spain | 2.5 | 1.4 | 1.6 | 1.8 | 2.5 | 1.8 | 2.2 |
Netherlands | 1.3 | 1.4 | 1.3 | 1.3 | 0.1 | 0.7 | 1.4 |
Belgium | 1.6 | 0.0 | 0.8 | 1.2 | 1.5 | 1.0 | 1.4 |
Greece | 0.8 | 0.7 | 1.9 | 2.5 | 2.0 | 1.4 | 2.0 |
Portugal | 3.4 | 1.2 | 1.8 | 2.0 | 2.3 | 1.6 | 2.2 |
Switzerland | 0.0 | 0.8 | 0.8 | 1.2 | 0.7 | 0.7 | 1.4 |
Sweden | 0.3 | -0.8 | 0.7 | 1.3 | -0.3 | -0.1 | 1.5 |
Norway | 1.7 | 0.0 | 1.5 | 1.9 | 1.1 | 0.9 | 1.9 |
%YoY | 4Q23F | 1Q24F | 2Q24F | 3Q24F | 2023F | 2024F | 2025F |
---|---|---|---|---|---|---|---|
Bulgaria | 1.6 | 2.2 | 2.6 | 2.9 | 1.9 | 2.9 | 3.3 |
Croatia | 3.2 | 2.9 | 2.2 | 2.6 | 2.7 | 2.6 | 2.7 |
Czech Republic | -0.2 | 0.4 | 1.0 | 1.8 | -0.4 | 1.4 | 2.2 |
Hungary | 0.0 | 1.0 | 2.1 | 2.1 | -0.9 | 2.1 | 3.8 |
Poland | 1.0 | 2.1 | 3.2 | 3.3 | 0.2 | 3.0 | 3.5 |
Romania | 2.9 | 2.7 | 2.3 | 2.5 | 2.0 | 2.8 | 3.0 |
Turkey | 3.9 | 4.6 | 2.4 | 1.6 | 4.5 | 2.5 | 3.5 |
Serbia | 3.8 | 4.2 | 3.4 | 2.8 | 2.5 | 3.3 | 3.5 |
Azerbaijan | 1.3 | 4.0 | 2.5 | 2.0 | 1.1 | 2.5 | 2.7 |
Kazakhstan | 5.4 | 4.5 | 3.8 | 5.0 | 5.1 | 4.5 | 5.0 |
Russia | 5.1 | 3.0 | 1.5 | -0.5 | 3.6 | 1.0 | 0.5 |
Ukraine | 4.0 | 3.5 | 3.5 | 3.2 | 4.5 | 3.5 | 5.0 |
China | 5.2 | 4.0 | 5.5 | 4.8 | 5.2 | 4.8 | 4.3 |
India | 7.2 | 3.3 | 8.2 | 7.8 | 7.2 | 6.8 | 7.5 |
Indonesia | 5.0 | 5.4 | 5.0 | 5.2 | 5.0 | 5.2 | 5.1 |
Korea | 2.2 | 2.3 | 2.0 | 1.6 | 1.4 | 1.8 | 1.8 |
Philippines | 5.6 | 6.0 | 6.3 | 4.7 | 5.0 | 5.4 | 5.1 |
Singapore | 2.2 | 2.0 | 2.1 | 2.2 | 1.1 | 2.1 | 2.5 |
Taiwan | 5.1 | 5.4 | 2.5 | 2.3 | 1.4 | 3.1 | 2.3 |
Inflation (CPI)
Developed Markets (%YoY) | 4Q23F | 1Q24F | 2Q24F | 3Q24F | 2023F | 2024F | 2025F |
---|---|---|---|---|---|---|---|
US | 3.2 | 3.1 | 2.9 | 2.4 | 4.1 | 2.6 | 2.0 |
Japan | 2.9 | 2.3 | 2.2 | 1.8 | 3.3 | 2.0 | 1.5 |
Germany | 3.0 | 3.0 | 2.8 | 2.6 | 6.0 | 2.8 | 2.1 |
France | 4.2 | 3.5 | 3.1 | 2.9 | 5.7 | 3.0 | 2.0 |
UK | 4.2 | 3.5 | 1.6 | 1.5 | 4.2 | 1.8 | 2.1 |
Italy | 1.0 | 1.3 | 1.8 | 1.9 | 6.0 | 1.9 | 2.0 |
Canada | 3.2 | 3.0 | 2.1 | 1.6 | 3.8 | 2.2 | 2.1 |
Australia | 4.1 | 3.8 | 3.8 | 3.4 | 5.6 | 3.6 | 2.9 |
Eurozone | 2.7 | 3.0 | 2.8 | 2.4 | 5.5 | 2.6 | 2.1 |
Austria | 5.2 | 3.5 | 3.0 | 2.9 | 7.8 | 2.9 | 2.1 |
Spain | 3.3 | 3.0 | 3.1 | 2.9 | 3.6 | 3.0 | 2.3 |
Netherlands | 0.5 | 2.6 | 1.2 | 0.8 | 4.1 | 1.5 | 2.6 |
Belgium | 0.8 | 2.7 | 2.9 | 3.1 | 4.0 | 2.8 | 2.1 |
Greece | 3.5 | 3.0 | 2.2 | 1.8 | 4.2 | 2.2 | 2.0 |
Portugal | 1.7 | 2.1 | 2.4 | 2.6 | 4.4 | 2.4 | 2.1 |
Switzerland | 1.6 | 1.3 | 1.4 | 1.6 | 2.1 | 1.5 | 1.3 |
Sweden | 3.0 | 2.4 | 2.5 | 2.6 | 6.1 | 2.6 | 2.9 |
Norway | 4.5 | 4.3 | 3.2 | 3.8 | 5.5 | 3.5 | 2.5 |
EMEA (%YoY) | 4Q23F | 1Q24F | 2Q24F | 3Q24F | 2023F | 2024F | 2025F |
Bulgaria | 5.3 | 3.5 | 3.3 | 3.1 | 9.6 | 3.4 | 4.1 |
Croatia | 5.0 | 4.0 | 2.9 | 1.6 | 8.0 | 2.7 | 2.6 |
Czech Republic | 7.2 | 2.6 | 2.6 | 2.4 | 10.8 | 2.6 | 2.0 |
Hungary | 7.8 | 3.5 | 4.0 | 4.3 | 17.6 | 4.2 | 4.2 |
Poland | 6.5 | 3.3 | 3.9 | 4.8 | 11.4 | 4.3 | 4.0 |
Romania | 7.2 | 7.2 | 6.0 | 5.3 | 10.5 | 5.8 | 4.1 |
Turkey | 64.8 | 66.8 | 70.3 | 45.1 | 53.9 | 55.9 | 25.8 |
Serbia | 8.0 | 5.8 | 4.7 | 4.3 | 12.5 | 4.7 | 4.5 |
Azerbaijan | 2.8 | 5.8 | 1.8 | 4.2 | 8.9 | 4.4 | 5.5 |
Kazakhstan | 10.4 | 9.5 | 8.9 | 8.4 | 14.8 | 8.6 | 7.0 |
Russia | 7.2 | 7.6 | 7.6 | 6.7 | 5.9 | 6.8 | 4.4 |
Ukraine | 5.5 | 6.0 | 8.0 | 9.5 | 11.7 | 8.1 | 7.3 |
Asia (%YoY) | 4Q23F | 1Q24F | 2Q24F | 3Q24F | 2023F | 2024F | 2025F |
China | -0.3 | 0.0 | 0.3 | 0.9 | 0.2 | 0.8 | 2.0 |
India | 5.4 | 5.1 | 5.0 | 4.2 | 5.7 | 4.7 | 4.8 |
Indonesia | 2.7 | 3.2 | 3.1 | 3.0 | 3.9 | 3.1 | 3.5 |
Korea | 3.4 | 2.7 | 2.5 | 2.2 | 3.6 | 2.4 | 2.0 |
Philippines | 4.3 | 2.9 | 3.6 | 3.4 | 6.1 | 3.3 | 3.6 |
Singapore | 4.0 | 3.6 | 3.3 | 3.2 | 4.0 | 3.3 | 3.0 |
Taiwan | 2.9 | 2.2 | 2.4 | 2.2 | 2.5 | 2.1 | 1.4 |
*Quarterly forecasts are quarterly average; yearly forecasts are average over the year. HICP for European Union economies
Policy rates
G10 (%) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 1Q25F | 4Q25F |
---|---|---|---|---|---|---|
US (upper bound) | 5.50 | 5.25 | 4.75 | 4.25 | 3.75 | 3.25 |
Eurozone (refi rate) | 4.50 | 4.25 | 4.00 | 3.75 | 3.50 | 3.00 |
Japan | -0.10 | 0.00 | 0.00 | 0.00 | 0.00 | 0.25 |
UK | 5.25 | 5.25 | 4.75 | 4.25 | 3.75 | 3.25 |
Switzerland | 1.75 | 1.50 | 1.25 | 1.00 | 1.00 | 1.00 |
Sweden | 4.00 | 3.75 | 3.25 | 3.00 | 3.00 | 3.00 |
Norway | 4.50 | 4.50 | 4.25 | 3.75 | 3.25 | 3.00 |
Canada | 5.00 | 4.75 | 4.50 | 4.00 | 3.50 | 3.25 |
Australia | 4.35 | 4.35 | 4.10 | 3.85 | 3.60 | 3.35 |
EMEA (%) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 1Q25F | 4Q25F |
Czech Republic | 6.00 | 5.00 | 4.00 | 4.00 | 3.50 | 3.00 |
Hungary | 8.00 | 6.50 | 6.50 | 6.50 | 6.50 | 5.00 |
Poland | 5.75 | 5.75 | 5.75 | 5.75 | 5.25 | 4.75 |
Romania | 7.00 | 6.75 | 6.25 | 6.00 | 5.50 | 5.00 |
Turkey | 45.00 | 45.00 | 45.00 | 40.00 | 35.00 | 22.50 |
Serbia | 6.30 | 5.80 | 5.50 | 5.50 | 5.50 | 5.00 |
Azerbaijan | 7.50 | 7.50 | 7.50 | 7.50 | 7.25 | 6.50 |
Kazakhstan | 14.75 | 13.75 | 12.75 | 11.75 | 11.25 | 9.75 |
Russia | 16.00 | 15.50 | 14.50 | 13.00 | 12.00 | 9.00 |
Ukraine | 15.00 | 15.00 | 15.00 | 15.00 | 15.00 | 12.00 |
Asia (%) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 1Q25F | 4Q25F |
China* | 3.35 | 3.35 | 3.25 | 3.15 | 3.05 | 3.05 |
India | 6.50 | 6.50 | 6.25 | 6.00 | 5.75 | 5.50 |
Indonesia | 6.00 | 6.00 | 5.75 | 5.50 | 5.50 | 5.00 |
Korea | 3.50 | 3.50 | 3.25 | 3.00 | 3.00 | 3.00 |
Philippines | 6.50 | 6.50 | 6.25 | 6.00 | 6.00 | 5.50 |
Taiwan | 1.88 | 1.88 | 1.80 | 1.75 | 1.70 | 1.60 |
*China 1 Year Loan Prime Rate
3 month rates
G10 (%) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 1Q25F | 2Q25F | 4Q25F |
---|---|---|---|---|---|---|---|
US | 5.40 | 5.20 | 4.65 | 4.10 | 3.70 | 3.20 | 3.20 |
Eurozone | 3.90 | 3.70 | 3.40 | 3.10 | 2.90 | 2.75 | 2.50 |
Japan | 0.08 | 0.15 | 0.15 | 0.25 | 0.30 | 0.30 | 0.50 |
UK | 5.25 | 5.05 | 4.55 | 4.15 | 3.60 | 3.20 | 3.20 |
Switzerland | 1.75 | 1.50 | 1.25 | 1.00 | 1.00 | 1.00 | 1.00 |
Canada | 5.10 | 4.90 | 4.40 | 3.80 | 3.30 | 3.10 | 3.20 |
Australia | 4.40 | 4.40 | 4.15 | 3.90 | 3.65 | 3.65 | 3.50 |
EMEA (%) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 1Q25F | 2Q25F | 4Q25F |
Czech Republic | 6.05 | 5.05 | 4.05 | 3.60 | 3.10 | 3.10 | 3.10 |
Hungary | 7.70 | 5.70 | 5.70 | 5.70 | 5.70 | 4.95 | 4.15 |
Poland | 5.80 | 5.85 | 5.85 | 5.82 | 5.45 | 5.28 | 4.92 |
Romania | 6.10 | 5.60 | 5.30 | 5.00 | 4.80 | 4.60 | 4.50 |
Turkey | 45.22 | 43.76 | 40.03 | 36.93 | 32.73 | 28.34 | 22.04 |
Serbia | 5.60 | 5.50 | 5.30 | 5.20 | 5.20 | 5.20 | 5.20 |
Kazakhstan | 14.95 | 13.95 | 12.95 | 11.95 | 11.45 | 10.95 | 9.95 |
Russia | 15.75 | 15.25 | 14.20 | 12.70 | 11.50 | 10.50 | 8.50 |
Asia (%) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 1Q25F | 2Q25F | 4Q25F |
China* | 2.25 | 2.20 | 2.20 | 2.15 | 2.15 | 2.10 | 2.05 |
India | 7.25 | 7.15 | 6.90 | 6.65 | 6.40 | 6.25 | 5.75 |
Indonesia | 7.00 | 6.98 | 6.73 | 6.48 | 6.23 | 6.30 | 6.00 |
Korea | 3.65 | 3.50 | 3.30 | 3.25 | 3.20 | 3.25 | 3.25 |
Philippines* | 5.70 | 5.50 | 5.30 | 5.10 | 5.00 | 5.20 | 4.75 |
Singapore | 4.00 | 3.85 | 3.70 | 3.50 | 3.50 | 3.20 | 2.50 |
Taiwan* | 1.50 | 1.50 | 1.45 | 1.38 | 1.38 | 1.30 | 1.25 |
*3-month Shanghai interbank rate for China; T-bill rate for the Philippines; and 3-month interbank rates for others
10-year yields
G10 (%) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 1Q25F | 2Q25F | 4Q25F |
---|---|---|---|---|---|---|---|
US: Fed funds | 5.50 | 5.25 | 4.75 | 4.25 | 3.75 | 3.25 | 3.25 |
3M | 5.40 | 5.20 | 4.65 | 4.10 | 3.70 | 3.20 | 3.20 |
2Y | 4.45 | 3.80 | 3.45 | 3.30 | 3.30 | 3.30 | 3.35 |
5Y | 4.25 | 3.70 | 3.40 | 3.35 | 3.50 | 3.65 | 3.70 |
10Y | 4.25 | 3.75 | 3.50 | 3.50 | 3.75 | 4.00 | 4.00 |
30Y | 4.35 | 3.95 | 3.80 | 3.90 | 4.15 | 4.40 | 4.40 |
ECB refi* | 4.50 | 4.25 | 4.00 | 3.75 | 3.50 | 3.25 | 3.00 |
3M | 3.90 | 3.70 | 3.40 | 3.10 | 2.90 | 2.75 | 2.50 |
2Y | 2.60 | 2.50 | 2.40 | 2.40 | 2.35 | 2.30 | 2.35 |
5Y | 2.20 | 2.10 | 2.10 | 2.25 | 2.25 | 2.30 | 2.40 |
10Y | 2.30 | 2.10 | 2.10 | 2.30 | 2.30 | 2.40 | 2.50 |
30Y | 2.40 | 2.40 | 2.40 | 2.60 | 2.60 | 2.70 | 2.80 |
Japan | 0.70 | 0.80 | 1.25 | 1.00 | 1.00 | 1.00 | 1.25 |
France | 2.80 | 2.65 | 2.65 | 2.85 | 2.85 | 2.95 | 3.05 |
Italy | 3.80 | 3.80 | 3.75 | 3.95 | 3.95 | 4.05 | 4.15 |
Spain | 3.20 | 3.15 | 3.10 | 3.30 | 3.30 | 3.40 | 3.50 |
UK | 4.05 | 3.85 | 3.55 | 3.65 | 3.65 | 3.75 | 4.00 |
Netherlands | 2.65 | 2.45 | 2.45 | 2.65 | 2.65 | 2.75 | 2.85 |
Belgium | 2.90 | 2.75 | 2.75 | 2.95 | 2.95 | 3.05 | 3.15 |
Austria | 2.80 | 2.65 | 2.65 | 2.85 | 2.85 | 2.95 | 3.05 |
Ireland | 2.70 | 2.55 | 2.55 | 2.75 | 2.75 | 2.85 | 2.95 |
Portugal | 3.05 | 2.95 | 2.95 | 3.15 | 3.15 | 3.25 | 3.35 |
Switzerland | 0.90 | 0.80 | 0.80 | 0.90 | 0.90 | 1.00 | 1.10 |
Sweden | 2.30 | 2.20 | 2.20 | 2.50 | 2.60 | 2.70 | 2.70 |
Norway | 3.65 | 3.00 | 3.10 | 3.20 | 3.55 | 3.75 | 3.75 |
Finland | 2.80 | 2.65 | 2.65 | 2.85 | 2.85 | 2.95 | 3.05 |
Canada | 3.40 | 3.20 | 3.00 | 3.25 | 3.50 | 3.50 | 3.75 |
Australia | 4.00 | 3.75 | 3.60 | 3.60 | 3.75 | 4.00 | 4.00 |
EMEA (%) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 1Q25F | 2Q25F | 4Q25F |
Bulgaria | 4.30 | 4.30 | 4.20 | 4.30 | 4.30 | 4.10 | 4.00 |
Czech Republic | 4.25 | 4.00 | 3.75 | 3.75 | 3.75 | 3.75 | 3.75 |
Hungary | 6.25 | 6.35 | 6.25 | 6.10 | 6.15 | 5.90 | 5.70 |
Poland | 5.50 | 5.55 | 5.45 | 5.25 | 4.99 | 4.92 | 4.82 |
Romania | 6.50 | 6.40 | 6.20 | 6.20 | 5.90 | 5.80 | 5.70 |
Russia | 12.50 | 12.30 | 12.20 | 12.00 | 11.50 | 10.70 | 8.30 |
Turkey | 25.61 | 24.40 | 23.86 | 23.33 | 22.71 | 21.28 | 20.02 |
Asia (%) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 1Q25F | 2Q25F | 4Q25F |
China | 2.55 | 2.25 | 2.20 | 2.20 | 2.55 | 2.50 | 2.40 |
India | 7.00 | 6.80 | 6.50 | 6.20 | 6.40 | 6.60 | 6.80 |
Indonesia | 6.60 | 6.70 | 6.60 | 6.45 | 6.50 | 6.20 | 6.00 |
Korea | 3.35 | 3.30 | 3.10 | 3.25 | 3.25 | 3.50 | 4.00 |
Philippines | 6.40 | 6.30 | 6.00 | 6.10 | 6.00 | 5.90 | 5.20 |
Singapore | 3.00 | 2.90 | 2.90 | 3.00 | 2.80 | 2.50 | 2.00 |
Taiwan | 1.20 | 1.15 | 1.10 | 1.10 | 1.15 | 1.20 | 1.30 |
*Apart from ECB refi rate, all Eurozone bond yield forecasts refer to German bund yields
FX
G10 (End period) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 4Q25F | |
---|---|---|---|---|---|---|
Euro | EUR/USD | 1.08 | 1.10 | 1.12 | 1.14 | 1.12 |
Japan | USD/JPY | 148 | 145 | 140 | 130 | 125 |
UK | GBP/USD | 1.23 | 1.26 | 1.27 | 1.30 | 1.24 |
Japan | EUR/JPY | 151.00 | 160.00 | 157.00 | 148.00 | 140.00 |
UK | EUR/GBP | 0.86 | 0.87 | 0.88 | 0.88 | 0.90 |
Canada | USD/CAD | 1.35 | 1.33 | 1.29 | 1.28 | 1.27 |
Australia | AUD/USD | 0.65 | 0.67 | 0.70 | 0.69 | 0.70 |
New Zealand | NZD/USD | 0.62 | 0.63 | 0.65 | 0.64 | 0.64 |
Switzerland | EUR/CHF | 0.93 | 0.95 | 0.95 | 0.95 | 1.00 |
Sweden | EUR/SEK | 11.30 | 11.10 | 10.90 | 10.70 | 10.50 |
Norway | EUR/NOK | 11.30 | 10.90 | 10.70 | 10.50 | 10.50 |
Denmark | EUR/DKK | 7.46 | 7.46 | 7.46 | 7.46 | 7.46 |
EMEA (End period) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 4Q25F | |
Serbia | EUR/RSD | 117.19 | 117.19 | 117.18 | 117.18 | 117.17 |
Czech Republic | EUR/CZK | 24.70 | 24.50 | 24.50 | 24.00 | 23.00 |
Hungary | EUR/HUF | 390.00 | 395.00 | 385.00 | 390.00 | 385.00 |
Poland | EUR/PLN | 4.30 | 4.22 | 4.27 | 4.30 | 4.35 |
Romania | EUR/RON | 4.98 | 4.98 | 4.98 | 5.04 | 5.09 |
Turkey | USD/TRY | 32.05 | 34.35 | 36.30 | 38.00 | 45.00 |
South Africa | USD/ZAR | 18.35 | 18.75 | 18.50 | 18.00 | 17.00 |
Israel | USD/ILS | 3.62 | 3.70 | 3.60 | 3.55 | 3.20 |
CIS (End period) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 4Q25F | |
Azerbaijan | USD/AZN | 1.70 | 1.70 | 1.70 | 1.70 | 1.70 |
Kazakhstan | USD/KZT | 455.00 | 460.00 | 465.00 | 470.00 | 500.00 |
Russia | USD/RUB | 87.00 | 92.00 | 97.00 | 105.00 | 110.00 |
EUR/RUB | 93.96 | 101.20 | 108.64 | 120.75 | 123.20 | |
Ukraine | USD/UAH | 38.00 | 38.30 | 38.70 | 39.00 | 39.00 |
Latam (End period) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 4Q25F | |
Brazil | USD/BRL | 4.85 | 5.00 | 5.00 | 4.90 | 5.00 |
Mexico | USD/MXN | 17.00 | 17.00 | 16.75 | 16.75 | 16.00 |
Chile | USD/CLP | 881.00 | 875.00 | 850.00 | 850.00 | 800.00 |
Asia (End period) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 4Q25F | |
China | USD/CNY | 7.20 | 7.14 | 7.05 | 7.00 | 6.80 |
India | USD/INR | 83.00 | 83.00 | 83.00 | 82.50 | 83.00 |
Indonesia | USD/IDR | 15700 | 15600 | 15300 | 15000 | 14700 |
Korea | USD/KRW | 1325 | 1300 | 1280 | 1250 | 1225 |
Philippines | USD/PHP | 55.90 | 55.50 | 55.10 | 54.80 | 54.00 |
Singapore | USD/SGD | 1.33 | 1.30 | 1.29 | 1.27 | 1.26 |
Taiwan | USD/TWD | 31.30 | 30.90 | 30.75 | 30.40 | 29.50 |
Commodities
Oil and natural gas forecasts (avg) | 1Q24F | 2Q24F | 3Q24F | 2023F | 2024F | 2025F |
---|---|---|---|---|---|---|
Brent ($/bbl) | 82.00 | 80.00 | 82.00 | 82.00 | 82.00 | 80.00 |
Dutch TTF (EUR/MWh) | 27.00 | 25.00 | 25.00 | 41.00 | 28.00 | 29.00 |
Metal Forecasts (avg) | 1Q24F | 2Q24F | 3Q24F | 4Q24F | 2024F | 2025F |
---|---|---|---|---|---|---|
Copper | 8,400 | 8,700 | 8,850 | 9,000 | 8,738 | 9,050 |
Aluminium | 2,220 | 2,250 | 2,270 | 2,300 | 2,260 | 2,350 |
Nickel | 16,600 | 16,800 | 16,850 | 17,000 | 16,813 | 17,875 |
Zinc | 2,450 | 2,500 | 2,550 | 2,550 | 2,513 | 2,625 |
Lead | 2,090 | 2,100 | 2,100 | 2,200 | 2,123 | 2,125 |
Gold | 2,035 | 2,050 | 2,100 | 2,150 | 2,084 | 2,100 |
Silver | 23.00 | 23.50 | 23.50 | 24.00 | 23.50 | 23.50 |
Iron Ore | 125.00 | 120.00 | 115.00 | 110.00 | 110.00 | 100.00 |