International assumptions summary | ||||
(% unless otherwise indicated) | ||||
2020 | 2021 | 2022 | 2023 | |
GDP growth | ||||
World | -3.7 | 5.4 | 4.1 | 3.0 |
US | -3.4 | 6.0 | 3.7 | 2.2 |
China | 2.3 | 8.0 | 5.3 | 5.0 |
EU27 | -6.1 | 4.6 | 4.3 | 2.4 |
Exchange rates | ||||
US$ effective (2000=100) | 117.8 | 113.2 | 114.0 | 114.5 |
¥:US$ | 106.8 | 108.9 | 110.9 | 112.1 |
US$:€ | 1.14 | 1.19 | 1.17 | 1.15 |
Financial indicators | ||||
US$ 3-month commercial paper rate | 0.56 | 0.07 | 0.11 | 0.27 |
¥ 3-month money market rate | 0.05 | 0.05 | 0.07 | 0.07 |
Commodity prices | ||||
Oil (Brent; US$/b) | 42.3 | 68.5 | 71.0 | 65.5 |
Gold (US$/troy oz) | 1,770.3 | 1,804.4 | 1,728.0 | 1,652.7 |
Food, feedstuffs & beverages (% change in US$ terms) | 7.8 | 32.3 | -1.0 | -4.2 |
Industrial raw materials (% change in US$ terms) | -3.2 | 37.2 | 0.3 | 0.2 |
Note. GDP growth rates are at market exchange rates. |
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