---
title: "Table of forecasts"
url: https://www.helaba.com/en/table-forecasts-27
type: dd_research
language: en
updated: 2026-09-28
keywords: Länder & Regionen, Financial Market Forecast
---

# Table of forecasts

Markets and Trends April 2024 © Helaba | Research & Advisory | 25 April 2024 1 of 2 Research & Advisory Tables of forecasts Gross domestic product and inflation 2022 2023 2024f 2025f 2022 2023 2024f 2025f Euro area 3,5 0,5 1,0 1,2 8,4 5,4 2,8 2,5 Germany 1,9 -0,1 0,8 1,1 6,9 5,9 3,0 2,5 France 2,5 0,9 1,1 1,2 5,9 5,7 3,0 2,7 Italy 4,1 1,0 1,1 1,2 8,7 5,9 2,2 2,6 Spain 5,8 2,5 2,0 1,5 8,3 3,4 3,3 2,7 Netherlands 4,5 0,1 0,7 1,5 11,6 6,0 4,0 2,3 Austria 4,8 -0,7 0,6 1,7 8,6 7,8 3,4 2,6 Sweden 2,7 0,0 0,4 2,3 8,4 8,5 3,5 2,2 Poland 5,5 0,1 2,7 3,4 14,4 11,4 4,7 4,0 Czech Republic 2,4 -0,2 1,0 2,8 15,1 10,7 2,6 2,4 Hungary 4,6 -0,7 2,7 3,5 14,5 17,6 4,7 3,8 United Kingdom 4,3 0,1 0,7 1,2 9,1 7,3 3,5 2,5 Switzerland 2,5 1,3 1,5 1,4 2,8 2,1 1,5 1,5 USA 1,9 2,5 2,1 2,2 8,0 4,1 3,0 2,2 Japan 0,9 1,9 1,0 0,8 2,5 3,3 2,5 2,0 Asia ex Japan 3,7 4,7 4,6 4,5 3,7 2,0 2,0 2,5 China 3,0 5,2 5,0 4,8 2,0 0,2 1,0 2,0 India\* 7,3 7,2 6,5 5,9 6,7 5,7 4,5 4,0 Russia -2,1 1,8 1,8 2,0 13,7 5,9 5,5 3,5 Turkey 5,6 4,5 2,4 3,7 72,4 53,9 45,0 25,0 Latin America\*\* 3,7 2,1 1,6 2,6 14,9 18,4 29,4 8,2 Brazil 2,9 2,9 2,2 2,0 9,0 4,6 3,5 3,5 World 3,0 2,9 2,9 3,0 7,0 5,0 5,0 3,0 \*India: Financial Year; \*\* Latin America ex Venezuela due to hyperinflation; f=forecast; GDP growth working-day adjusted if available Sources: Macrobond, LSEG, Helaba Research & Advisory Gross domestic product Consumer prices Real change, % yoy Change, % yoy Markets and Trends © Helaba | Research & Advisory | 25 April 2024 2 of 2 Financial markets, gold, crude oil and currencies Publisher and Editor Helaba. Publisher: Dr. Gertrud R. Traud, Chief Economist/Head of Research & Advisory. Editor: Dr. Stefan Mitropoulos. Neue Mainzer Str. 52-58, 60311 Frankfurt am Main. Tel. +49 69/91 32-20 24. http://www.helaba.de Disclaimer This publication was very carefully researched and prepared. However, it contains analyses and forecasts regard- ing current and future market conditions that are for informational purposes only. The data is based on sources that we consider reliable, though we cannot assume any responsibility for the sources being accurate, complete, and up-to-date. All statements in this publication are for informational purposes. They must not be taken as an offer or recommendation for investment decisions. 31.12.2023 last month\* Latest\*\* Q2/2024 Q3/2024 Q4/2024 Q1/2025 Interest rates % ECB refinancing rate 0 0 4,50 4,25 3,65 3,40 3,15 ECB deposit rate 0 0 4,00 3,75 3,50 3,25 3,00 Overnight rate €STR 3 1 3,91 3,65 3,40 3,20 3,00 3M Euribor -3 -1 3,88 3,50 3,30 3,05 2,75 6M Euribor -3 -2 3,83 3,40 3,25 3,00 2,70 2y Bunds 57 12 2,97 2,40 2,30 2,10 2,10 5y Bunds 64 27 2,59 2,05 2,10 2,10 2,10 10y Bunds 56 29 2,59 2,00 2,00 2,10 2,10 2y swap rate 55 20 3,34 2,75 2,60 2,35 2,35 5y swap rate 53 29 2,96 2,50 2,55 2,55 2,55 10y swap rate 40 31 2,89 2,45 2,45 2,55 2,55 20y swap rate 31 29 2,83 2,40 2,45 2,55 2,55 30y swap rate 26 27 2,60 2,40 2,35 2,40 2,40 Fed funds target rate 0 0 5,38 5,13 4,88 4,63 4,38 10y Treasuries 76 44 4,64 3,90 3,80 3,80 3,70 Equities index DAX 8,0 -2,2 18.089 16.800 17.200 17.500 17.600 Euro Stoxx 50 10,4 -1,8 4.990 4.600 4.700 4.800 4.830 Dow Jones 2,0 -3,4 38.461 36.800 37.400 38.000 38.300 S&P 500 6,3 -3,5 5.072 4.650 4.730 4.800 4.830 Nikkei 225 14,9 -4,3 38.460 35.800 36.400 37.000 37.600 Gold / crude oil price Gold €/oz 15,8 5,0 2.164 1.818 1.909 2.000 2.000 Gold $/oz 12,3 3,9 2.316 2.000 2.100 2.200 2.200 Brent crude $/barrel 14,3 0,6 88 89 90 91 91 Currencies exchange rate US dollar 3,2 0,8 1,07 1,10 1,10 1,10 1,10 Japanese yen -6,3 -1,8 166 153 150 148 148 British pound 1,0 -0,4 0,86 0,86 0,87 0,88 0,88 Swiss franc -5,1 -0,6 0,98 0,96 0,98 1,01 1,01 \* 28.03.2024 \*\* 24.04.2024 Sources: Bloomberg, Helaba Research & Advisory Helaba forecast for end of period… vs. euro, % Change from... basis points in local currency, % %

Our tables of forecasts for: gross domestic product and inflation, financial markets, gold, crude oil and currencies.