---
title: "Table of forecasts"
url: https://www.helaba.com/en/table-forecasts-25
type: dd_research
language: en
updated: 2026-09-28
keywords: Länder & Regionen, Financial Market Forecast
---

# Table of forecasts

Markets and Trends June 2024 © Helaba | Research & Advisory | 21 June 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 0,8 1,4 8,4 5,4 2,6 2,5 Germany 1,9 0,0 0,5 1,4 6,9 5,9 2,6 2,5 France 2,6 1,1 0,9 1,2 5,9 5,7 2,8 2,7 Italy 4,1 1,0 0,9 1,2 8,7 5,9 1,5 2,9 Spain 5,8 2,5 2,3 1,5 8,3 3,4 3,3 2,7 Netherlands 4,4 0,2 0,7 1,5 11,6 4,1 3,0 2,3 Austria 4,9 -0,7 0,6 1,7 8,6 7,8 3,6 2,6 Sweden 1,6 0,1 0,4 2,3 8,4 8,5 3,5 2,0 Poland 5,9 0,1 2,7 3,4 14,4 11,4 4,0 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 4,3 3,8 United Kingdom 4,3 0,1 0,7 1,2 9,1 7,3 2,8 2,5 Switzerland 2,4 1,3 1,5 1,4 2,8 2,1 1,5 1,5 USA 1,9 2,5 2,5 2,2 8,0 4,1 3,4 2,5 Japan 1,0 1,8 0,7 1,0 2,5 3,3 2,2 2,0 Asia ex Japan 3,7 4,8 4,6 4,5 3,7 2,0 2,0 2,3 China 3,0 5,2 5,0 4,8 2,0 0,2 0,7 1,7 India\* 7,1 8,2 6,8 6,3 6,7 5,7 4,8 4,4 Russia -2,1 3,0 3,0 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 3,0 3,0 3,1 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 | 21 June 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 -25 -25 4,25 4,25 3,65 3,40 3,15 ECB deposit rate -25 -25 3,75 3,75 3,50 3,25 3,00 Overnight rate €STR -22 -25 3,66 3,65 3,40 3,20 3,00 3M Euribor -21 -11 3,70 3,50 3,30 3,05 2,75 6M Euribor -17 -9 3,69 3,45 3,25 3,05 2,75 2y Bunds 42 -26 2,83 2,75 2,40 2,30 2,30 5y Bunds 50 -20 2,45 2,45 2,25 2,30 2,30 10y Bunds 41 -15 2,43 2,40 2,20 2,30 2,30 2y swap rate 41 -20 3,21 3,05 2,70 2,55 2,55 5y swap rate 40 -12 2,84 2,80 2,60 2,65 2,65 10y swap rate 27 -8 2,76 2,75 2,55 2,70 2,70 20y swap rate 16 -5 2,69 2,70 2,55 2,70 2,70 30y swap rate 11 -7 2,45 2,50 2,35 2,50 2,50 Fed funds target rate 0 0 5,38 5,38 5,13 4,88 4,63 10y Treasuries 38 -21 4,26 4,50 4,40 4,20 4,00 Equities index DAX 9,0 -2,3 18.254 18.500 18.700 19.000 19.300 Euro Stoxx 50 9,4 -1,7 4.948 5.050 5.100 5.200 5.250 Dow Jones 3,8 0,2 39.135 39.000 39.500 40.000 40.300 S&P 500 14,7 3,2 5.473 5.200 5.250 5.300 5.350 Nikkei 225 15,4 0,0 38.633 39.500 40.000 40.500 40.900 Gold / crude oil price Gold €/oz 17,9 2,4 2.204 2.190 2.091 2.182 2.182 Gold $/oz 14,4 1,1 2.360 2.300 2.300 2.400 2.400 Brent crude $/barrel 11,3 4,4 86 89 90 91 91 Currencies exchange rate US dollar 3,1 1,4 1,07 1,05 1,10 1,10 1,10 Japanese yen -8,4 0,1 170 163 162 158 154 British pound 2,5 0,7 0,85 0,86 0,87 0,88 0,88 Swiss franc -2,6 4,0 0,95 0,98 0,98 1,01 1,01 \* 24.05.2024 \*\* 20.06.2024 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.