Economic Forecasts

+-)-+).+-.

Q4 12 Q1 13 Q2 13 Q3 13 Q4 12 Q1 13 Q2 13 Q3 13 Q4 12 Q1 13 Q2 13 Q3 13 Q4 12 Q1 13 Q2 13 Q3 13 Q4 12 Q1 13 Q2 13 Q3 13 Q4 12 Q1 13 Q2 13 Q3 13 Q4 12 Q1 13 Q2 13 Q3 13 Q4 12 Q1 13 Q2 13 Q3 13 Q4 12 Q1 13 Q2 13 Q3 13 Q4 12 Q1 13 Q2 13 Q3 13

G-10

USA 2 1.9 2.3 2.5 1.9 1.7 2 2.1 Fed Funds Rate 0.25 0.25 0.25 0.25 8.1 8.1 8 7.9 -3.2 -3.15 -3.2 -3.15 -7.55 -7 -5.9 -5.6 0.41 0.43 0.46 0.51 0.31 0.38 0.47 0.58 1.77 1.9 2.07 2.24 EUR/USD 1.27 1.26 1.24 1.23

Japan 0.5 1.2 1.2 1.45 0 -0.2 -0.05 0.15 BOJ overnight rate 0.1 0.1 0.1 0.1 4.3 4.2 4.2 4.1 1.2 1.5 1.4 1.6 0.23 0.23 0.23 0.24 0.11 0.11 0.12 0.13 0.87 0.95 0.99 1.05 USD/JPY 79 80 82 83

Euro -0.4 -0.25 0.2 0.8 2.3 1.9 1.9 1.9 ECB Rate 0.5 0.5 0.5 0.63 11.45 11.5 11.5 11.4 1.1 1.3 1.1 0.8 0.34 0.37 0.4 0.46 EUR/USD 1.27 1.26 1.24 1.23

United Kingdom -0.1 0.5 1.5 1.2 2.1 2.1 2.3 2.2 Official Bank Rate 0.5 0.5 0.5 0.5 8.25 8.3 8.4 8.3 -2.7 -2.7 -2.6 -2.6 0.64 0.65 0.68 0.73 0.32 0.45 0.57 0.79 1.82 1.99 2.15 2.3 USD/GBP 1.6 1.58 1.58 1.59

Canada 2 2 2.2 2.3 1.6 1.6 1.8 2.1 Overnight lending rate 1 1 1.13 1.25 7.3 7.2 7.2 7.1 -3 -3 -3 -2.8 -0.9 -0.9 -0.7 -0.5 1.17 1.27 1.39 1.56 1.19 1.27 1.43 1.66 1.81 1.94 2.13 2.35 USD/CAD 0.98 0.98 0.98 0.98

Australia 3.2 2.7 2.8 3.15 2.45 3.15 3.2 2.7 RBA Cash Rate 3.25 3.13 3.13 3.25 5.4 5.45 5.35 5.2 -3.8 -4 -4.2 -4.5 3.4 3.39 3.42 3.55 2.76 2.86 3.06 3.34 3.19 3.3 3.47 3.73 USD/AUD 1.02 1.02 1.03 1.03

Sweden 1.6 1.6 1.3 0.8 1.2 Decision Rate 1.13 1.13 1.13 1.25 7.6 8 8.3 1.49 1.53 1.58 1.61 1 1.45 1.35 1.65 1.68 1.66 1.79 1.8 USD/SEK 6.62 6.74 6.81 6.86

New Zealand 2.8 2.4 2.85 3 1.9 1.9 2.2 2.5 Cash Rate 2.5 2.75 2.88 3.25 6.2 6 5.8 5.65 -6.2 -6.35 -6.55 -6.5 2.79 2.94 3.15 3.45 4.19 4.25 4.37 4.52 USD/NZD 0.81 0.81 0.8 0.82

Switzerland 1.2 1 1.25 1.9 0.1 0.4 0.5 1 Reference Rate 3.2 3.3 3.3 3.2 0.05 0.08 0.1 0.12 0.05 0.05 0.2 0.1 0.76 0.87 0.99 1.16 USD/CHF 0.95 0.96 0.99 1

Denmark Discount rate USD/DKK 5.73 5.85 5.94 5.95

Norway Deposit Rate 1.5 1.63 1.63 1.63 2.06 2.23 2.31 2.42 USD/NOK 5.76 5.84 5.83 5.87

Germany 1 0.7 0.9 1.3 1.9 1.7 1.8 1.9 ECB Rate 0.5 0.5 0.5 0.63 6.8 6.8 6.75 6.7 6.2 5.9 5.7 0.15 0.29 0.42 0.57 1.65 1.85 2 2.14 EUR/USD 1.27 1.26 1.24 1.23

France -0.1 0.1 0.4 0.9 1.85 1.7 1.8 1.95 ECB Rate 0.5 0.5 0.5 0.63 10.4 10.4 10.4 10.4 -2.2 -2.15 -2.2 -2.5 0.5 0.95 0.95 0.6 2.69 2.85 2.91 3.07 EUR/USD 1.27 1.26 1.24 1.23

Italy -2.3 -1.35 -0.5 0.15 2.8 2.3 1.75 2.05 ECB Rate 0.5 0.5 0.5 0.63 11 11.1 11.2 11.2 -0.8 -1 -1 2.75 2.7 2.6 2.2 5.31 5.06 5.12 5.04 EUR/USD 1.27 1.26 1.24 1.23

Eastern Europe

Czech Republic -0.2 2.3 3.3 3 2.9 2.4 2.35 2.3 2w Repo rate 0.38 0.5 0.5 0.5 8.7 9.3 8.5 8.6 -1.6 -0.9 -2.7 -2.7 0.9 0.93 0.94 1.01 1.63 1.78 1.98 2.16 2.55 2.64 2.85 2.94 EUR/CZK 25 24.8 24.6 24.5

Hungary -0.4 0.2 0.6 1.2 5.35 3.95 4 3.8 Base Rate 6.5 6.25 6 5.88 10.95 11.7 11 10.8 2 1.5 1.3 1.3 7.54 7.31 7.16 7.08 EUR/HUF 284 280 276 280

Poland 1.8 1.6 1.95 2.3 3.2 2.8 2.55 2.7 Reference Rate 4.38 4 4 4 13.1 13.75 12.75 12.75 -4.1 -3.6 -3.15 -3.45 4.63 4.32 4.24 4.2 4.17 4.16 4.27 4.38 4.72 4.74 4.83 4.86 EUR/PLN 4.1 4.13 4.05 4.05

Slovakia 0.7 1.1 2.45 3.05 3 2 2 2.45 Key policy rate 13.8 13.8 13.3 13.2 1.7 1.7 1.7 1.8 EUR/SKK

Russia 3 2.95 3.3 3.8 6.7 7.1 6.85 6.55 Refinance Rate 8.38 8.38 8.25 8.13 5.8 6.1 5.8 5.7 2.8 5.8 2 1.2 -1 -2.1 -1.6 -1.7 USD/RUB 31.35 30.98 30.97 31.21

Turkey 3.1 3.4 3.15 4.35 6.7 6.5 6.9 6.8 1wk Repo Rate 5.88 5.75 5.75 5.75 9.1 9.1 8.9 8.8 6.46 6.78 7.07 7.45 6 6.75 7.5 8 USD/TRY 1.8 1.76 1.75 1.75

Iceland 1wk Repo Rate 6 6 5.5 5.5 USD/ISK

MEA

Israel 2.5 2.8 3.3 3.6 1.1 0.5 2 Discount rate 2.13 2.13 2.25 2.5 USD/ILS 3.9 3.88 3.8 3.8

South Africa 2.7 2.9 2.9 3.1 5.2 5.3 5.2 5.5 Repo Rate 4.75 4.75 4.75 4.75 -4.7 -5.05 -5.15 -5.3 5.07 5.08 5.07 5.11 4.74 4.92 5.36 5.61 6.91 7 7.09 7.22 USD/ZAR 8.2 8 7.96 8.15

Bahrain O/N Repo Rate USD/BHD

Egypt Re Discount Rate USD/EGP 6.14 6.21 6.26

Kuwait Discount rate USD/KWD 0.28 0.28 0.27

Oman Repo Rate USD/OMR

Qatar Repo Rate USD/QAR 3.64

Saudi Arabia Re Repo Rate USD/SAR 3.75 3.75 3.75

United Arab Emirates 1wk Repo Rate USD/AED 3.67 3.67 3.67

Asia

China 7.7 7.85 8.1 8.3 2.5 2.85 3.4 3.5 Lending Rate 5.88 5.88 5.88 5.88 4.15 4.25 4.2 4.2 2.6 2.1 2 2 2.1 3.36 3.39 3.38 3.44 USD/CNY 6.32 6.29 6.27 6.22

Hong Kong 3.2 3.3 3.45 4.25 2.4 3.6 2.8 4.25 Base Rate 3.5 3.5 3.5 3.5 0.37 0.38 0.4 0.46 0.25 0.25 0.25 0.25 1.27 1.2 1.44 1.48 USD/HKD 7.77 7.78 7.78 7.77

India 5.7 6.2 6.65 6.9 9.6 9.2 8.95 9.1 Reverse Repo Rate 6.75 6.63 7 7 -3.1 -2.9 8 7.88 7.94 8.09 USD/INR 54.5 54 53 52.5

Indonesia 5.85 5.75 4.9 4.8 5.52 Reference Rate 5.75 5.75 5.75 5.88 4.92 4.82 4.8 4.78 6.04 6.2 6.29 6.39 USD/IDR 9600 9613 9500 9342

South Korea 2.8 3.35 3.3 3.6 2.25 2.5 2.9 3 Base Rate 2.75 2.75 2.75 2.88 3.3 3.35 3.35 3.35 3.21 3.34 3.45 3.35 USD/KRW 1120 1101 1096 1080

Malaysia 4.05 4.2 4.3 5.2 2 2.4 2.65 2.7 BN Interbank ON 3 3 3.13 3.25 3 3.2 3.1 8.6 9.7 9.8 3.17 3.2 3.36 3.4 3.66 3.68 3.74 3.73 USD/MYR 3.1 3.05 3.03 3

Phillipines 4.6 4.2 4.9 4.8 3.45 4.3 4.25 4.1 Repo Rate 3.63 3.63 3.75 3.75 2.32 2.74 2.99 3.13 5.79 6 6.12 6.23 USD/PHP 41.5 41.3 41 40.4

Singapore 3.6 3.35 3.95 4.4 3.85 3.3 3 3 Domestic IBOR rate 2.25 2.3 2.2 2.2 0.39 0.41 0.48 0.55 0.2 0.2 0.2 0.25 1.8 1.82 1.98 2.14 USD/SGD 1.24 1.23 1.22 1.21

Taiwan 4.3 3.8 4 3.2 2.05 2.06 1.8 1.2 Discount Rate 1.88 1.88 1.88 2 4.29 4.35 4.25 4.25 1.35 1.34 1.4 1.47 0.77 0.8 0.85 0.87 1.25 1.28 1.33 1.37 USD/TWD 29.6 29.4 29.1 29

Thailand 15.1 5.2 4.4 4.55 3.6 2.7 3.7 3.5 Repurchase Rate 2.88 3 3 3.13 2.96 2.98 3.07 3.18 3.1 3.34 3.56 3.64 3.71 USD/THB 31 30.8 30.45 30.2

Vietnam 6.1 6.3 6.5 6.75 9.3 Base Rate USD/VND 21100 21200 21300 21500

LatAm

Argentina 0.5 2.3 3.3 3 10.7 10.8 Deposit 1DY Rate 7.75 8.3 7.9 7.6 -0.35 -0.1 0.3 0.1 -1.5 -0.4 -0.4 -0.4 USD/ARS 4.93 5.07 5.25 5.46

Brazil 2.8 3.7 4.3 4.1 5.3 5.55 5.7 5.3 SELIC Rate 7.38 7.5 7.75 8.13 5.3 6 5.8 5.8 -2.4 -2.45 -2.45 -2.7 -1.95 -1.95 -1.95 -2.4 USD/BRL 2 1.98 1.95 1.95

Chile 4.6 4.75 4.4 4.55 2.3 2.6 2.9 3.4 Monetary Policy Rate 4.88 4.88 4.75 5 6.3 -2.5 1.2 USD/CLP 485.5 482 483 475

Colombia 4.3 4.65 4.3 4.55 3 3 3.15 3.1 Deposit Rate 4.63 4.63 4.63 4.63 10.2 11.05 10.65 10.2 -3.6 -2.7 -4.1 -4.5 -2 USD/COP 1800 1801 1782 1775

Mexico 3.3 3.05 3.3 3.4 4 4.2 4 3.7 Overnight rate 4.5 4.5 4.5 4.63 4.85 4.8 4.7 4.7 -1 -1 -1 -1.2 -1.4 -2.8 4.77 4.87 4.93 4.96 5.77 5.87 6 6.11 USD/MXN 12.81 12.75 12.55 12.45

Peru 6 5.9 5.6 5.45 2.9 2.7 2.6 2.6 Reference Rate 4.25 4.13 4.13 4.25 USD/PEN 2.6 2.59 2.57 2.55

Venezuela 4 -0.5 -0.7 -0.8 25.3 27 29.4 29.6 Deposit Rate 7 7.1 USD/VEF

Economic Forecasts - CompositeFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %) Unemployment (%) 10-Year Note (%)Policy Rate (%)

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G-10

USA 2 1.9 2.3 2.5 1.9 1.7 2 2.1 Fed Funds Rate 8.1 8.1 8 7.9 -3.2 -3.1 -3.2 -3.1 -7.6 -7 -5.9 -5.6 EUR/USD

Japan 0.5 1.2 1.2 1.5 0 -0.1 -0.1 0.2 BOJ overnight rate 4.3 4.2 4.2 4.1 1.2 1.5 1.4 1.6 USD/JPY

Euro -0.4 -0.3 0.2 0.8 2.2 2 1.9 2 ECB Rate 11.4 11.5 11.5 11.4 0.6 0.8 0.9 1.2 EUR/USD

United Kingdom -0.1 0.7 1.6 1.2 2.1 2 2.3 2.2 Official Bank Rate 8.2 8.3 8.3 8.3 -2.7 -2.7 -2.6 -2.6 USD/GBP

Canada 2 2 2.2 2.3 1.6 1.6 1.8 2.1 Overnight lending rate 7.3 7.2 7.2 7.1 -3.1 -3 -3 -2.8 -0.9 -0.9 -0.7 -0.5 USD/CAD

Australia 3.2 2.7 2.8 3.2 2.5 3.2 3.2 2.7 RBA Cash Rate 5.4 5.5 5.4 5.2 -3.8 -4 -4.2 -4.5 -2 -1 0.1 0.1 USD/AUD

Sweden 1.6 1.6 1.3 0.8 1.2 Decision Rate 7.6 8 8.3 USD/SEK

New Zealand 2.8 2.4 2.9 3 1.9 1.9 2.2 2.5 Cash Rate 6.2 6 5.8 5.7 -6.2 -6.3 -6.5 -6.5 -6 -5.8 -3.1 -5 USD/NZD

Switzerland 1.2 1 1.3 1.9 0.1 0.4 0.5 1 Reference Rate 3.2 3.3 3.3 3.2 USD/CHF

Denmark 1.4 2.6 2.6 Discount rate 4.5 4.5 USD/DKK

Norway 1.7 1.6 2 Deposit Rate 2.6 USD/NOK

Germany 1 0.7 0.9 1.3 1.9 1.7 1.9 1.9 ECB Rate 6.8 6.8 6.7 6.7 4.8 4.8 4.4 EUR/USD

France -0.1 0.1 0.5 1 1.9 1.7 2 2 ECB Rate 10.4 10.4 10.4 10.4 -1.9 -1.8 -1.9 -2.3 EUR/USD

Italy -2.2 -1.3 -0.5 0.3 2.9 2.1 1.7 2 ECB Rate 11 11.1 11.2 11.2 -0.8 -3.8 -2.5 EUR/USD

Eastern Europe

Czech Republic -0.2 3.9 3.3 2.9 2.4 2.4 2.3 2w Repo rate 8.7 9.3 8.5 8.6 -1.6 -0.9 -2.7 -2.7 -3.3 EUR/CZK

Hungary -0.4 0.2 0.6 1.2 5.3 4 3.9 3.9 Base Rate 11 11.7 11 10.8 2 1.5 1.3 1.3 -3 -3 -2.9 -2.9 EUR/HUF

Poland 1.8 1.6 2 2.3 3.3 2.8 2.6 2.7 Reference Rate 12.9 13.8 13 12.8 -4.3 -3.2 -2.6 -2.7 -3.4 -3.4 -3.4 -3.3 EUR/PLN

Slovakia 0.7 1.1 2.5 3.1 3 2 2 2.5 Key policy rate 13.8 13.8 13.3 13.2 -4.5 -3 -3 -3 EUR/SKK

Russia 3 3 3.3 3.8 6.8 7.1 6.9 6.6 Refinance Rate 5.8 6.1 5.8 5.7 2.8 5.8 2 1.2 -0.9 -2.2 -2.1 -1.4 USD/RUB

Turkey 3.4 3.8 3 4.3 6.5 6.9 6.9 7 1wk Repo Rate 9.6 9.4 9.1 8.9 -7.8 -8 -8.2 -8.4 -2.3 -2.1 -2.1 -2 USD/TRY

Iceland 1wk Repo Rate USD/ISK

MEA

Israel 3.5 4.1 4.3 4 1.8 1.3 2.2 2.8 Discount rate 7 7 0 0 3.5 3.5 3.5 USD/ILS

South Africa 2.8 2.9 2.9 3.1 5.2 5.3 5.2 5.4 Repo Rate 22.7 -4.7 -5.1 -5.2 -5.3 USD/ZAR


Egypt Re Discount Rate USD/EGP

Kuwait Discount rate USD/KWD


Qatar Repo Rate USD/QAR

Saudi Arabia Re Repo Rate USD/SAR

United Arab Emirates 1wk Repo Rate USD/AED

Asia

China 7.7 7.9 8.1 8.3 2.5 2.8 3.3 3.4 Lending Rate 4.2 4.3 4.2 4.2 2.6 USD/CNY

Hong Kong 3 3.1 4 4.5 2.3 3.1 2.9 3.9 Base Rate 3.5 USD/HKD

India 5.5 6.2 6.8 7.1 9.6 9.2 8.3 8.3 Reverse Repo Rate -3.1 -3.5 USD/INR

Indonesia 6 5.8 4.9 5.48 5.68 Reference Rate USD/IDR

South Korea 2.7 3.6 3.1 3.5 2.1 2.2 2.5 2.9 Base Rate 3.3 3.3 3.4 3.4 USD/KRW

Malaysia 4.05 5.2 4.3 5.2 2.1 2.6 2.6 2.7 BN Interbank ON 3 3.2 3.1 8.6 9.7 9.8 USD/MYR

Phillipines 4.6 4.2 4.9 4.8 3.7 4.3 4.3 4.1 Repo Rate USD/PHP

Singapore 3.6 2.9 4 4.4 3.8 3.3 3 3 Domestic IBOR rate USD/SGD

Taiwan 3.9 3.8 4.3 4.1 2 2 1.8 1.2 Discount Rate 4.2 4.3 4.2 4.2 USD/TWD

Thailand 14.4 5.6 4.6 4.6 3.6 3.7 3.7 3.5 Repurchase Rate USD/THB

Vietnam Base Rate USD/VND

LatAm

Argentina 2.2 3.9 3.3 Deposit 1DY Rate 7.6 -0.5 USD/ARS

Brazil 2.8 3.7 4.3 4.1 5.3 5.6 5.8 5.4 SELIC Rate 5.3 6 5.8 5.8 -2.4 -2.5 -2.5 -2.7 -2 -2 -2 -2.4 USD/BRL

Chile 4.8 5 4.5 2.3 2.4 2.7 Monetary Policy Rate 6.3 6.7 6.5 -2.5 -4.3 1.2 USD/CLP

Colombia 4.3 4.7 4.3 4.6 3 3 3.2 3.1 Deposit Rate 10.2 11.1 10.6 10.2 -3.6 -2.7 -4.1 -4.5 -2 USD/COP

Mexico 3.3 2.9 3.2 3.4 4 4.2 3.9 3.7 Overnight rate 4.8 4.8 4.7 4.7 -1 -1 -1 -1.2 -1.4 -2.8 USD/MXN

Peru 6 5.9 5.6 5.5 2.9 2.7 2.6 2.6 Reference Rate 4.3 4.3 USD/PEN

Venezuela 4 -0.5 -0.7 -0.8 25.3 27 29.4 29.6 Deposit Rate 7 8.7 8.7 4.4 5.4 -6.1 USD/VEF

10-Year Note (%)Policy Rate (%)

Economic Forecasts - Composite From SurveyFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %) Unemployment (%)


+-)-+).+-.


G-10

USA 2.5 1.5 2 2.5 2 1.5 2.3 2.4 Fed Funds Rate 0.25 0.25 0.25 0.25 7.9 7.8 7.5 7.3 -3.2 -3.2 -3.2 -3.2 0.45 0.45 0.45 0.25 0.25 0.25 1.5 1.5 1.5 EUR/USD

Japan 2.99 2.12 -0.32 -0.15 -0.16 0.26 BOJ overnight rate 0.1 0.1 0.1 0.1 4 4 1.27 1.3 0.2 0.2 0.2 0.1 0.1 0.1 0.85 0.85 0.85 USD/JPY

Euro -0.4 -0.2 0.2 0.8 2.6 2.3 2.3 2.4 ECB Rate 0.5 0.5 0.5 0.5 11.6 11.7 11.8 11.8 1.2 1.3 1.4 1.5 0.2 0.2 0.25 0.25 EUR/USD

United Kingdom -0.1 0.7 1.7 1.8 2.5 2.5 2.9 2.9 Official Bank Rate 0.25 0.25 0.25 0.25 8.2 8.3 8.4 8.4 -4 -4.1 -4.2 -4.3 0.5 0.5 0.5 0.5 0.1 0.15 0.2 0.25 1.75 1.85 2 2.15 USD/GBP

Canada 2.5 2 2.4 Overnight lending rate 1 1.25 1.5 USD/CAD

Australia 2.4 2.6 2.7 2.8 1.9 2.4 2.5 2.5 RBA Cash Rate 3.5 3.5 3.5 3.5 5.3 5.3 5.3 5.3 -2.7 -2.8 -2.9 -2.7 3.95 3.95 3.95 3.95 3.95 3.95 3.1 3.2 3.25 USD/AUD

Sweden Decision Rate 1 1 1 USD/SEK

New Zealand Cash Rate 2.5 2.75 2.75 3.5 USD/NZD

Switzerland 0 Reference Rate 0.25 0.25 0.25 0.25 USD/CHF

Denmark Discount rate USD/DKK

Norway Deposit Rate 1.5 1.75 1.75 USD/NOK

Germany 2 1.8 ECB Rate 0.5 0.5 0.5 0.5 0.05 0.1 0.2 0.2 1.75 1.85 1.95 1.95 EUR/USD

France 0.5 0.7 1.1 1.2 2.2 1.6 1.6 2.1 ECB Rate 0.5 0.5 0.5 0.5 10.5 10.6 10.6 10.6 -2.4 -2.4 -2.4 -2.4 3.84 3.86 3.9 3.95 EUR/USD

Italy 3.6 ECB Rate 0.5 0.5 0.5 0.5 EUR/USD

Eastern Europe

Czech Republic 2w Repo rate 0.5 0.5 EUR/CZK

Hungary Base Rate 7 6.5 EUR/HUF

Poland Reference Rate 4 3.25 3.25 EUR/PLN

Slovakia Key policy rate EUR/SKK

Russia 3 6.5 5.7 Refinance Rate 7.75 USD/RUB

Turkey 6.7 1wk Repo Rate 5.5 5.5 5.5 USD/TRY


MEA

Israel Discount rate 2.25 2.25 USD/ILS

South Africa 2.6 2.6 2.7 3.1 5.2 5.3 5 5.3 Repo Rate 5 5 5 5 -5.3 -5.2 -5.2 -5.3 USD/ZAR








Asia

China 8.4 8.7 Lending Rate 5.75 5.75 5.75 5.75 USD/CNY

Hong Kong Base Rate USD/HKD

India Reverse Repo Rate USD/INR

Indonesia Reference Rate 5.75 5.75 5.75 USD/IDR

South Korea 4.3 4.1 4.2 Base Rate 2.75 2.75 2.75 2.75 USD/KRW

Malaysia BN Interbank ON 3 3 USD/MYR

Phillipines 5.3 Repo Rate 4 4 USD/PHP

Singapore Domestic IBOR rate USD/SGD

Taiwan 5.3 5 Discount Rate 1.88 1.88 USD/TWD

Thailand Repurchase Rate 3 3.25 USD/THB


LatAm

Argentina Deposit 1DY Rate USD/ARS

Brazil 5.3 5.9 5.9 SELIC Rate 7.25 7.25 7.25 7.25 6.3 6.3 6.3 USD/BRL

Chile Monetary Policy Rate 5 5 5 USD/CLP

Colombia Deposit Rate 5.5 5.5 USD/COP

Mexico 3.9 Overnight rate 4.5 4.5 4.5 4.5 5.1 USD/MXN

Peru Reference Rate 5 5 USD/PEN

Venezuela Deposit Rate USD/VEF

Unemployment (%) 10-Year Note (%)Policy Rate (%)

Economic Forecasts - Barclays CapitalFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %)


+-)-+).+-.


G-10

USA 1.8 2.1 2.5 2.4 2.1 2 2.4 2.3 Fed Funds Rate 0.25 0.25 0.25 0.25 8.2 8.2 8.1 8 -3.5 -3.5 -3.6 -3.6 -6.5 -6.5 -6.2 -6.2 0.4 0.4 0.4 0.4 0.25 0.3 0.3 0.35 2 1.5 1.85 2.15 EUR/USD 1.35 1.32 1.35 1.32

Japan -0.6 0.8 1.2 1.2 0.6 0.1 0.4 0.5 BOJ overnight rate 0.1 0.1 0.1 0.1 4 4 3.9 3.9 1.5 1.5 1.6 1.6 0.35 0.1 0.7 USD/JPY 77 76 76 75

Euro ECB Rate 0.5 0.05 EUR/USD 1.35 1.32 1.35 1.32

United Kingdom 0.5 1.2 1.7 2 2 1.7 1.7 2 Official Bank Rate 0.5 0.5 0.5 0.5 8.9 8.9 8.8 8.7 0.8 0.75 0.75 0.75 0.25 0.25 0.4 0.5 1.1 1.45 1.75 2.05 USD/GBP 1.73 1.74 1.78 1.78

Canada 2.1 2.2 2 2.4 1.1 1.5 2 2.2 Overnight lending rate 1 1 1.25 1.5 7.4 7.4 7.4 7.4 -2.5 -2.9 -3.6 -2 -0.9 -1 -1.2 -1.2 1.3 1.4 1.5 1.75 1.2 1.35 1.6 1.9 2.05 2.2 2.35 2.55 USD/CAD 0.96 0.95 0.94 0.92

Australia 3.3 3.8 3.9 3.7 2.6 3.3 3.1 2.7 RBA Cash Rate 3.25 2.75 2.75 2.75 5.3 5.2 5.1 5.1 -2.4 -2.8 -2.8 -2.6 3.65 3.6 3.8 4 3.25 3.45 3.7 4 4.25 4.45 4.65 4.9 USD/AUD 1.08 1 1.02 1.04

Sweden Decision Rate USD/SEK 6.56 6.7 6.67 6.82

New Zealand Cash Rate USD/NZD 0.86 0.83 0.85 0.88

Switzerland Reference Rate USD/CHF 0.93 0.95 0.93 0.98

Denmark Discount rate USD/DKK 5.53 5.65 5.53 5.65

Norway Deposit Rate USD/NOK 5.56 5.68 5.48 5.61

Germany ECB Rate 0.5 0.1 1.45 EUR/USD 1.35 1.32 1.35 1.32

France 0.1 0.4 0.8 1.1 2 1.8 1.7 2 ECB Rate 0.5 10.5 10.5 10.5 10.6 -2 -2.3 -2.3 -2.3 0.5 0.5 0.55 0.6 2.6 2.5 2.55 2.65 EUR/USD 1.35 1.32 1.35 1.32

Italy ECB Rate 0.5 EUR/USD 1.35 1.32 1.35 1.32

Eastern Europe

Czech Republic 2w Repo rate EUR/CZK 25.5 26.2 25.8 25

Hungary Base Rate EUR/HUF 275 275 273 277

Poland 1.7 1.6 1.8 1.9 3.3 2.8 2.5 2.5 Reference Rate 4 3.5 3.5 3.5 12.7 14.1 13.6 13.3 -2.6 -2.6 -1.9 -1.2 4.3 3.8 3.8 3.8 4.4 4.2 4.3 4.45 4.55 4.5 4.8 4.7 EUR/PLN 4.25 4.3 4.2 4.15


Russia 3.3 2.9 3.3 4.1 7 8.1 8 7.4 Refinance Rate 8.5 8.5 8.5 8.5 5.8 5.9 5.3 5.3 2.6 2.5 1.8 1.7 USD/RUB 30.24 29.98 29.81 31.29

Turkey 3.6 4.2 4.4 4.6 6.4 7.1 7.5 7.1 1wk Repo Rate 5.75 5.75 5.75 5.75 9.2 9.1 9 9 6.2 6.8 7.5 8.5 7 7.5 8 9 USD/TRY 1.74 1.72 1.74 1.79


MEA

Israel Discount rate USD/ILS 3.87 3.88 3.76 3.75

South Africa 3.1 3.4 3 2.7 5.6 6.1 6.2 4.9 Repo Rate 4.5 4.5 4.5 4.5 -4.8 -5.2 -5.1 -5.3 4.85 4.85 4.75 4.6 7 6.85 6.9 7 USD/ZAR 8.5 8 8.1 8


Egypt Re Discount Rate USD/EGP 6.5 7 7.5 8

Kuwait Discount rate USD/KWD 0.27 0.27 0.27 0.27



Saudi Arabia Re Repo Rate USD/SAR 3.75

United Arab Emirates 1wk Repo Rate USD/AED 3.67

Asia

China 7.3 7.8 8.1 8.4 3.2 3.8 3.8 3.6 Lending Rate 5.75 5.75 5.75 5.75 2.7 1.1 3.4 2.8 USD/CNY 6.3 6.27 6.25 6.3

Hong Kong 0.9 0.9 2.3 3.8 4.1 3.6 3.8 5.5 Base Rate 3.4 3.5 3.6 3.5 0.4 0.4 0.4 0.4 0.25 0.25 0.25 0.25 1.5 1.65 2 2.2 USD/HKD 7.75 7.75 7.75 7.75

India 5.3 6.2 6.8 7.4 Reverse Repo Rate USD/INR 55 54.5 54 53.5

Indonesia Reference Rate USD/IDR 9800 9850 9900 9950

South Korea 1.3 4.3 2 3.1 2.7 2.2 2.5 2.7 Base Rate 2.5 2.5 2.5 2.5 3.5 3.5 3.6 3.5 2.2 1.7 1.8 1.5 2.8 2.95 3.1 3.35 USD/KRW 1100 1080 1050 1030

Malaysia BN Interbank ON USD/MYR 3.1 3.05 3 2.95

Phillipines Repo Rate USD/PHP 40 39.5 39 38.5

Singapore Domestic IBOR rate USD/SGD 1.24 1.22 1.2 1.18

Taiwan 1.45 1.86 2.01 3.06 2.99 2.11 1.39 0.37 Discount Rate 1.88 1.88 1.88 1.88 4.37 4.51 4.53 4.58 0.8 0.8 0.8 0.8 0.75 0.75 0.8 0.85 1.25 1.3 1.45 1.55 USD/TWD 29 28.5 28 27.8

Thailand Repurchase Rate USD/THB 30 29.5 29 28.7

Vietnam Base Rate USD/VND 21000 21000 21000 21000

LatAm

Argentina Deposit 1DY Rate USD/ARS 7.85 5 5.15 5.35

Brazil 2 3.2 4.7 5.5 5.4 5.9 6.4 6.3 SELIC Rate 7.5 8.5 9 9 4.4 5.3 4.5 4.3 -2.4 -2.5 -2.6 -2.8 USD/BRL 1.98 1.98 1.96 1.95

Chile Monetary Policy Rate 5 4.75 USD/CLP 482 480 483 486

Colombia Deposit Rate USD/COP 1850 1875 1830 1815

Mexico 4 5.3 3.3 3.8 4.1 4.1 4 3.8 Overnight rate 4.5 4.75 5 5 4.9 5.2 5.4 5.3 -1.4 -1.3 -1.2 -0.7 -2.7 -1.9 0.5 -2 USD/MXN 12.75 12.6 12.5 12.3

Peru Reference Rate 4.5 USD/PEN 2.6 2.59 2.58 2.57



Economic Forecasts - BNP ParibasFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %) Unemployment (%)


+-)-+).+-.


G-10

USA 1 1 1.5 2.2 2 1.7 1.9 1.9 Fed Funds Rate 0.25 0.25 0.25 0.25 8.4 8.4 8.5 8.4 0.38 0.35 0.35 0.35 0.25 0.2 0.2 0.25 1.75 1.75 1.75 1.75 EUR/USD 1.15 1.18 1.19 1.2

Japan -1.4 4.4 0.4 1 0.2 -0.1 -0.1 0 BOJ overnight rate 0.1 0.1 0.1 0.1 4.2 4.2 4.1 4 0.8 0.8 0.8 USD/JPY 78 80 82 84

Euro -1.2 -1.3 -0.9 -0.3 2 1.8 1.7 1.7 ECB Rate 0.5 0.5 0.5 0.5 11.4 11.6 11.6 11.6 0.3 0.3 0.3 0.5 0.2 0.15 0.15 EUR/USD 1.15 1.18 1.19 1.2

United Kingdom 0 0.7 1.9 1.5 1.8 1.6 1.8 2.1 Official Bank Rate 0.5 0.5 0.5 0.5 8.6 8.6 8.6 8.5 -1.9 -1.9 -1.8 -1.7 0.65 0.65 0.65 0.4 0.5 0.6 1.85 2.05 2.25 USD/GBP 1.53 1.51 1.49 1.5

Canada 1.8 2.1 Overnight lending rate 1 1 8.2 -1 0.25 0.9 1.1 1.15 1.2 2 2.15 2.2 USD/CAD 1.05 1.04 1.03 1.02

Australia 3.1 2.4 2.6 3.1 2.7 3.3 3.5 2.6 RBA Cash Rate 3.25 3.25 3.25 3.25 5.8 6 6.1 6.1 -3.6 -3.8 -4.1 -4.5 3.5 3.5 3.5 3.5 2.7 2.65 2.75 2.85 3 3 3 3 USD/AUD 0.98 0.98 0.98 0.96



Switzerland Reference Rate 0 0 USD/CHF 1.06 1.05 1.06 1.07



Germany 0 -0.4 0 0.8 1.5 1.7 1.6 1.6 ECB Rate 0.5 0.5 0.5 0.5 6.8 6.8 6.7 6.6 6.2 5.9 5.7 5.7 0.1 0.1 0.15 1.5 1.6 1.7 EUR/USD 1.15 1.18 1.19 1.2

France 0 -0.2 0.1 0.2 2 2.1 2.1 2.1 ECB Rate 0.5 0.5 0.5 0.5 10.4 10.6 10.7 10.8 -2.6 -2.5 -2.5 -2.5 EUR/USD 1.15 1.18 1.19 1.2

Italy -2.7 -2.1 -1.6 -1.4 2.7 2.4 2.3 2.3 ECB Rate 0.5 0.5 0.5 0.5 11 11.4 11.6 11.6 -0.2 0.2 0.6 0.9 EUR/USD 1.15 1.18 1.19 1.2

Eastern Europe

Czech Republic 2w Repo rate EUR/CZK 25.3 25.3 25.3 25

Hungary 3.5 Base Rate 6.5 6 6 6 EUR/HUF 285 285 285 285

Poland Reference Rate 4.25 4.25 4 4.7 4.65 4.35 4.7 4.75 4.55 EUR/PLN 4.25 4.25 4.25 4.15


Russia 3.3 2.9 3 3.5 6.7 6.7 5.7 4.7 Refinance Rate 8.25 8.25 7.75 7.5 USD/RUB 31.5 31.5 31.5 31

Turkey 1wk Repo Rate 5.75 5.75 5.75 5.75 6 6 6 USD/TRY 1.8 1.8 1.8 1.75


MEA


South Africa 3.5 4.5 6 5.6 Repo Rate 4.5 4.5 4.5 4.5 22.7 -5.2 -5.4 5.45 5.5 5.6 7.25 7.25 7.3 USD/ZAR 8 8 8 7.6


Egypt Re Discount Rate USD/EGP 6.04 6.04 6.04 6.04



Qatar Repo Rate USD/QAR 3.64 3.64 3.64 3.64

Saudi Arabia Re Repo Rate USD/SAR 3.75 3.75 3.75 3.75

United Arab Emirates 1wk Repo Rate USD/AED 3.67 3.67 3.67 3.67

Asia

China 7.7 7.6 7.6 7.5 Lending Rate 3.9 3.9 3.9 4.2 4.2 4.2 USD/CNY 6.4 6.35 6.3 6.3

Hong Kong Base Rate 0.5 USD/HKD 7.8 7.82 7.8 7.8

India Reverse Repo Rate 6 USD/INR 53 51 50 50

Indonesia Reference Rate 5.75 5.75 5.75 5.75 USD/IDR 9400 9300 9200 9100

South Korea Base Rate USD/KRW 1100 1080 1000 1000

Malaysia 4.2 2.1 BN Interbank ON 3 3 3 3.7 3.7 3.7 USD/MYR 3.1 3.05 3 2.95

Phillipines Repo Rate 3.75 USD/PHP 42 41 39.8 39.8

Singapore 5.5 3.9 Domestic IBOR rate USD/SGD 1.24 1.21 1.21 1.2

Taiwan Discount Rate USD/TWD 30 28.5 28 27.5

Thailand Repurchase Rate USD/THB 30 29.8 29 29


LatAm

Argentina 0.6 Deposit 1DY Rate USD/ARS 5 5.3 5.6 5.9

Brazil 4.7 5.1 SELIC Rate 7.25 7.25 7.25 USD/BRL 2.05 2 1.98 1.96

Chile 3.8 2.1 Monetary Policy Rate 4.75 4.5 4.75 USD/CLP 500 500 497 495

Colombia 4.7 3.5 4.7 5.3 2.8 3 3 3.1 Deposit Rate 4.75 4.75 4.75 4.75 9.6 9.9 9.2 8.5 USD/COP 1800 1780 1770 1760

Mexico 2.3 3.8 Overnight rate 4.5 4.5 4.5 4.8 4.85 5.1 5.8 5.85 6 USD/MXN 13.6 13.3 13.15 13

Peru 5.1 Reference Rate 4.25 USD/PEN 2.65 2.64 2.63 2.62

Venezuela 4.6 Deposit Rate USD/VEF


Economic Forecasts - Bank of America Merrill LynchFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %)


+-)-+).+-.


G-10

USA 2 1.3 2 3.2 2.1 2 1.8 1.7 Fed Funds Rate 0.25 0.25 0.25 0.25 8.1 8 8 8 -3 -3 -3.2 -3.2 0.42 0.44 0.55 0.65 0.25 0.35 0.55 0.7 1.65 1.8 2.1 2.35 EUR/USD 1.27 1.2 1.15 1.17

Japan -0.3 1.7 2.7 2.5 0.2 -0.3 -0.1 0.1 BOJ overnight rate 0.1 0.1 0.1 0.1 4.3 4.3 4.3 4.1 0.8 1 1.1 1.1 0.2 0.2 0.2 0.2 0.15 0.15 0.2 0.2 0.95 1.1 1.2 1.1 USD/JPY 77 77 76 77

Euro -1.1 -1.4 -1.2 -0.9 2.2 1.8 1.8 2.2 ECB Rate 1 0.75 0.75 0.5 11.3 11.4 11.4 11.4 0.5 0.5 0.5 0.5 EUR/USD 1.27 1.2 1.15 1.17

United Kingdom -0.7 0 0.8 0.4 1.8 1.5 1.7 1.8 Official Bank Rate 0.5 0.5 0.5 0.5 7.9 7.9 7.7 7.6 0.85 0.85 0.9 1 0.4 0.4 0.5 0.6 1.4 1.4 1.5 1.75 USD/GBP 1.59 1.55 1.52 1.53

Canada 2.3 1.9 2.4 2.8 1.5 1.6 1.5 2.1 Overnight lending rate 1 1.25 1.5 1.75 7.2 7.2 7 6.9 -3.7 -3.3 -3.1 -2.8 1.75 2.1 2.5 2.75 USD/CAD 0.96 0.97 0.98 0.98

Australia 1.6 RBA Cash Rate 3.5 3.5 3.5 3.75 5.5 3.4 3.4 3.7 4 2.6 3.9 3.1 3.3 3.6 3.8 USD/AUD 1.02 0.99 0.96 0.96

Sweden Decision Rate USD/SEK

New Zealand Cash Rate 2.5 2.75 3 3.5 3.8 4 4.4 4.75 USD/NZD 0.82 0.8 0.79 0.77

Switzerland Reference Rate 0 0 0 0 0.44 0.5 0.54 0.64 USD/CHF 0.95 1 1.04 1.02


Norway Deposit Rate USD/NOK

Germany 2 2 1.8 1.5 2.1 2.4 2.2 2.3 ECB Rate 1 0.75 0.75 0.5 5.4 5.4 5.3 5.3 0.25 0.25 0.35 0.5 1.75 1.8 2 2.25 EUR/USD 1.27 1.2 1.15 1.17

France -0.7 -0.8 -0.5 0 1.3 0.9 0.8 1.1 ECB Rate 1 0.75 0.75 0.5 9.6 9.6 9.5 9.4 EUR/USD 1.27 1.2 1.15 1.17

Italy ECB Rate 1 0.75 0.75 0.5 EUR/USD 1.27 1.2 1.15 1.17

Eastern Europe

Czech Republic 2w Repo rate EUR/CZK 25.1 25.5 25.9 25.6

Hungary 5.5 4 3.9 3.7 Base Rate 6.5 6 6 5.5 7 6.75 6.63 6.5 EUR/HUF 296 304 309 305

Poland 1.8 1.4 1.6 3.1 3 2.5 2.3 2.8 Reference Rate 4.75 4.5 4.25 4.25 5.25 5.2 5.15 5.25 EUR/PLN 4.2 4.31 4.38 4.28


Russia 2.4 4.1 4.6 4.1 6.6 7.2 7.5 6.9 Refinance Rate 8.25 8.5 8.5 8.5 USD/RUB 32.3 34 35.4 35

Turkey 3.1 1.2 3.4 5.3 6.7 7.1 7 6.7 1wk Repo Rate 5.75 5.75 5.75 6.5 USD/TRY 1.84 1.88 1.92 1.9


MEA

Israel 2.9 Discount rate 2.75 USD/ILS 4.06 4.14 4.19 4.15

South Africa 3 3.2 3.6 3.7 5.9 5.9 4.9 4.5 Repo Rate 5 5 5 5 8.75 8.88 9 8.93 USD/ZAR 8.5 8.61 8.7 8.7








Asia

China 8.1 8.3 8.1 7.9 2.3 2.4 2.6 3.1 Lending Rate 5.81 5.81 USD/CNY 6.33 6.34 6.35 6.31

Hong Kong Base Rate 0.38 0.4 0.5 0.6 USD/HKD 7.75 7.76 7.76 7.76

India Reverse Repo Rate 6.5 6.5 6.5 6.5 8.25 8.25 8.25 8.25 USD/INR 55 55.6 55.9 55.1

Indonesia 5.79 5.32 Reference Rate 5.75 6 6.25 6.25 USD/IDR 9680 9773 9843 9805

South Korea 2.7 2.4 Base Rate 2.5 2.5 2.5 2.75 3.2 USD/KRW 1126 1134 1138 1123

Malaysia 4.5 3.8 4.3 5.6 2.2 2.1 2.6 2.6 BN Interbank ON 3 3 3 3 3.28 3.28 3.28 3.28 3.1 3.2 3.4 3.5 USD/MYR 3.08 3.11 3.13 3.13

Phillipines Repo Rate 3.5 3.5 3.5 3.5 USD/PHP 41.7 42.4 42.9 42.5

Singapore Domestic IBOR rate 0.3 0.3 0.3 0.3 1.88 1.95 2 2.12 USD/SGD 1.25 1.26 1.27 1.26

Taiwan 4.8 4.2 3.6 3.2 1.5 Discount Rate 1.88 1.88 1.88 1.88 1.18 1.21 1.24 1.27 USD/TWD 30 30.3 30.4 30

Thailand Repurchase Rate 2.5 2.5 2.5 2.5 USD/THB 30.9 31.5 31.9 31.5

Vietnam Base Rate USD/VND 22284

LatAm

Argentina 0.3 Deposit 1DY Rate 8 -0.6 USD/ARS

Brazil 3.6 4.9 SELIC Rate 7.25 7.25 7.25 8.25 6 -2.2 USD/BRL 2.02 2.03 2.05 2.05

Chile 3.9 2.3 Monetary Policy Rate 4.25 4.5 7.6 -2.5 0.7 USD/CLP 490 501 509 505

Colombia 4 2.9 Deposit Rate 10.6 -3.3 USD/COP 1830 1841 1850 1850

Mexico 3.3 3.7 Overnight rate 5.1 -1.1 -1.2 USD/MXN 12.7 13 13.2 13

Peru 2.8 Reference Rate 4.5 USD/PEN

Venezuela 4 3.4 3.5 3.4 24.5 26.8 29.4 28.4 Deposit Rate 6 8.2 7.6 8 3.8 4.3 3.7 3.6 USD/VEF


Economic Forecasts - CitibankFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %) Unemployment (%)


+-)-+).+-.


G-10

USA 2.2 2.4 2.6 3 1.9 1.6 1.4 1.5 Fed Funds Rate 0.25 0.25 0.25 0.25 8.2 8.1 7.9 7.7 0.25 0.25 0.3 0.35 1.35 1.45 1.55 1.65 EUR/USD 1.22 1.22 1.2 1.19

Japan -0.5 1.7 2.6 2.8 0 -0.4 -0.3 -0.3 BOJ overnight rate 0.1 0.1 0.1 0.1 4.3 4.3 4.3 4.2 0.9 1.1 1.1 1 0.3 0.3 0.3 0.3 1 1 USD/JPY 77 78 79 80

Euro ECB Rate EUR/USD 1.22 1.22 1.2 1.19

United Kingdom 2 2 2.2 2.6 Official Bank Rate 0.5 0.5 0.5 0.5 2 2.3 2.35 USD/GBP 1.57 1.57 1.56 1.54

Canada 1.5 2 2.3 2.6 1.6 1.6 1.8 2.2 Overnight lending rate 1 1 1 1.5 7.3 7.2 7.1 7 USD/CAD 0.99 0.99 0.99 0.99

Australia RBA Cash Rate 3 3 2.5 2.5 2.75 2.75 3 3.25 2.05 2.15 2.35 2.5 2.65 2.75 2.9 3 USD/AUD 0.98 0.97 0.97 0.96



Switzerland Reference Rate USD/CHF 0.99 1 1.01 1.03



Germany ECB Rate EUR/USD 1.22 1.22 1.2 1.19

France ECB Rate EUR/USD 1.22 1.22 1.2 1.19

Italy ECB Rate EUR/USD 1.22 1.22 1.2 1.19

Eastern Europe

Czech Republic 2w Repo rate EUR/CZK 25 24.9 24.8 24.7

Hungary Base Rate EUR/HUF 277 276 276 275

Poland Reference Rate 4.75 EUR/PLN 3.99 3.98 3.97 3.95


Russia Refinance Rate USD/RUB 31.78 31.9 32.04 32.27

Turkey 1wk Repo Rate USD/TRY 1.79 1.81 1.82 1.83


MEA


South Africa Repo Rate USD/ZAR 8.3 8.26 8.22 8.2








Asia

China 8.1 4.6 Lending Rate USD/CNY 6.32 6.27 6.23 6.2

Hong Kong Base Rate USD/HKD 7.8 7.8 7.8 7.8

India 6.5 7.2 7.4 7.6 Reverse Repo Rate USD/INR 53.43 52.93 52.43 51.94

Indonesia Reference Rate 5.75 6.25 USD/IDR 9600 9500 9408 9342

South Korea Base Rate 2.5 USD/KRW 1109 1102 1096 1089

Malaysia BN Interbank ON USD/MYR 3 2.99 2.99 2.98

Phillipines Repo Rate USD/PHP 40.7 40.5 40.3 40

Singapore 6 4.7 5.3 Domestic IBOR rate 2.3 2.3 2.2 2.2 USD/SGD 1.24 1.24 1.23 1.23

Taiwan Discount Rate USD/TWD 29.2 29.1 29.1 29

Thailand Repurchase Rate 3 USD/THB 30.5 30.4 30.3 30.2


LatAm


Brazil SELIC Rate USD/BRL 2 2 2 2

Chile Monetary Policy Rate USD/CLP

Colombia Deposit Rate USD/COP

Mexico Overnight rate USD/MXN 12.73 12.56 12.38 12.23

Peru Reference Rate USD/PEN


Policy Rate (%)

Economic Forecasts - Credit SuisseFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %) Unemployment (%) 10-Year Note (%)


+-)-+).+-.


G-10

USA 2 1.5 2 2.5 2.1 2 2.3 2.3 Fed Funds Rate 0.25 0.25 0.25 0.25 8.1 8.1 8.1 8 -3.2 -3.3 -3.4 -3.4 0.25 0.25 0.25 0.25 0.5 0.5 0.6 0.75 2 2.1 2.2 2.3 EUR/USD

Japan 1.2 BOJ overnight rate 0.1 0.1 0.1 0.1 1 USD/JPY

Euro ECB Rate EUR/USD

United Kingdom Official Bank Rate USD/GBP

Canada 2.2 Overnight lending rate 7.6 USD/CAD

Australia 2.8 2.1 RBA Cash Rate 3.25 3.25 3.25 3.25 USD/AUD


New Zealand 2.8 2.7 3.2 3.3 2.1 2.1 2.2 2.5 Cash Rate 6.3 6.2 6 5.9 -6.1 -6.4 -6.5 -6.4 2.7 2.7 3.12 3.45 USD/NZD

Switzerland Reference Rate USD/CHF



Germany 1 0.6 1.2 1.5 2.4 2.1 2.1 2.2 ECB Rate 6.9 6.8 6.8 6.8 EUR/USD

France ECB Rate EUR/USD

Italy ECB Rate EUR/USD

Eastern Europe

Czech Republic 1.3 2 1.1 1.1 2w Repo rate 0.75 1 1 1.25 EUR/CZK

Hungary Base Rate 7 6.5 6 5.75 EUR/HUF

Poland 1.8 1.6 2 2.7 3.3 3 2.7 2.8 Reference Rate 4.25 4 4 4 10.5 10.8 11.1 11.3 4.5 4.2 4.2 4.2 EUR/PLN


Russia Refinance Rate USD/RUB

Turkey 1wk Repo Rate USD/TRY


MEA

Israel Discount rate USD/ILS

South Africa Repo Rate 6 6.5 7 7 USD/ZAR








Asia

China 7.4 7.7 Lending Rate USD/CNY


India 5.4 6.3 6.4 7.1 Reverse Repo Rate -3.1 -3.8 USD/INR

Indonesia 5.7 5.8 Reference Rate USD/IDR

South Korea 2.8 2.8 Base Rate 3.25 USD/KRW

Malaysia 3.7 4.3 BN Interbank ON USD/MYR

Phillipines 5 4.8 Repo Rate USD/PHP

Singapore 2.4 3.7 Domestic IBOR rate USD/SGD

Taiwan Discount Rate USD/TWD

Thailand 11.6 5.9 Repurchase Rate USD/THB


LatAm


Brazil 4.7 5 SELIC Rate 7.5 8.5 9 9 USD/BRL



Mexico Overnight rate USD/MXN

Peru Reference Rate 4.25 4.25 4.5 4.5 USD/PEN



Economic Forecasts - Goldman SachsFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %) Unemployment (%)


+-)-+).+-.


G-10

USA 1.4 1.6 1.9 2.4 1.7 1.6 1.9 2 Fed Funds Rate 0.25 0.25 0.25 0.25 8 7.9 7.8 7.7 0.5 0.4 0.4 0.3 0.2 1.9 2 2.1 2.5 EUR/USD 1.35 1.37 1.38

Japan 1 0 0.1 0.2 -0.3 -0.2 -0.2 0 BOJ overnight rate 0.05 0.05 0.05 1 1.3 0.5 1.3 1.4 USD/JPY 74 72 72

Euro -0.7 -0.5 0.1 2.3 1.8 1.8 1.7 ECB Rate 0.5 0.5 0.5 0.5 11.4 11.6 11.7 0.4 0.4 0.4 EUR/USD 1.35 1.37 1.38

United Kingdom 0.7 1.4 2.1 2.6 2.5 2.6 2.5 Official Bank Rate 0.5 0.5 0.5 0.5 8.7 8.6 8.7 0.9 0.8 0.8 0.5 0.5 0.5 1.9 2.2 2.2 USD/GBP 1.6 1.62 1.61

Canada 1.5 2.7 2.3 2.1 2.2 2 Overnight lending rate 1 1 1 7 7 6.9 1.4 1.3 1.3 2.3 2.3 2.4 USD/CAD 0.97 0.95 0.95

Australia 2.7 2.4 2.9 3.5 3.1 3.6 3.7 2.7 RBA Cash Rate 3.25 3.25 3.25 3.5 5.2 5.1 5 4.9 -6.3 -6.7 -6.8 -7.1 3.7 3.7 3.8 4 2.7 2.8 2.9 3.1 3.2 3.3 3.5 3.8 USD/AUD 0.95 0.95 0.95

Sweden Decision Rate 2.3 USD/SEK 6 5.91 5.83

New Zealand 3.5 3.6 3.7 3.3 2.9 2.9 3 3 Cash Rate 2.5 3 3.25 3.5 6.3 6.2 6.1 6 -6.2 -6.3 -6.4 -6.4 3.6 3.6 3.8 4.1 USD/NZD 0.73 0.72 0.72

Switzerland 1.1 1 1.2 0.2 0.2 0.4 Reference Rate 3.2 3.3 3.3 11.8 12.3 12.5 1.4 USD/CHF 0.89 0.88 0.87

Denmark Discount rate USD/DKK 5.51 5.43 5.39

Norway Deposit Rate 2.8 USD/NOK 5.26 5.11 5.04

Germany 1 0.8 1.4 1.5 1.3 1.5 1.9 ECB Rate 0.5 0.5 0.5 0.5 6.7 6.7 6.7 4.8 4.5 4.4 2 2.1 2.1 EUR/USD 1.35 1.37 1.38

France ECB Rate 0.5 0.5 0.5 0.5 3.7 EUR/USD 1.35 1.37 1.38

Italy -1.9 -1.2 -0.5 3 2.3 1.6 1.7 ECB Rate 0.5 0.5 0.5 0.5 10.2 10.3 10.4 -0.8 -3.1 -2 6.7 EUR/USD 1.35 1.37 1.38

Eastern Europe

Czech Republic 2w Repo rate EUR/CZK 25 25 24.5

Hungary 0.1 5.4 3.5 3.3 Base Rate 6.5 7.6 EUR/HUF 280 275 275

Poland 2.2 1.5 1.9 2.3 3.5 2.8 2.6 2.8 Reference Rate 4.5 4.75 4.75 4.75 4.6 4.2 4.3 4.3 4.8 4.8 4.8 4.8 EUR/PLN 4.1 4 4


Russia 1.3 1.3 2.4 3.1 7.5 8.2 7.7 7 Refinance Rate 8.75 8.75 8.75 8.5 5.8 6.4 5.3 5.3 3 5.4 2.2 0.7 -1.7 0.4 -0.6 -0.9 USD/RUB 32.27 30.58 33.33

Turkey 3.1 3.4 3 4.3 7.2 7.5 7.7 7.6 1wk Repo Rate 6 6.5 7 7.2 USD/TRY 1.8 1.75 1.7


MEA

Israel Discount rate USD/ILS 3.85 3.8 3.75

South Africa 2.5 2.8 2.8 3.1 4.9 4.9 5.2 5.6 Repo Rate USD/ZAR 8 7.8 7.5


Egypt Re Discount Rate USD/EGP 6.1 6.1 6.1

Kuwait Discount rate USD/KWD 0.28



Saudi Arabia Re Repo Rate USD/SAR 3.75

United Arab Emirates 1wk Repo Rate USD/AED 3.67

Asia

China 8.8 9 8.8 8.8 2.7 2.7 2.6 2.6 Lending Rate 5.75 USD/CNY 6.3 6.28 6.26

Hong Kong 5.1 6.9 4.9 Base Rate 1.9 USD/HKD 7.8 7.8 7.8

India 6.8 6.6 7.1 7.4 9.2 8.6 7.2 8.3 Reverse Repo Rate 6.5 6.5 6.5 6.5 -3 -2 -3 -3.5 -5.6 -5.6 -5.5 -5.3 7.8 7.7 7.7 7.7 USD/INR 52 51 50

Indonesia Reference Rate 7.2 USD/IDR 9800 9750 9700

South Korea 3.5 3.8 Base Rate USD/KRW 1120 1110 1100

Malaysia 3.9 4 4.8 5.2 2.7 3.3 3.3 3.1 BN Interbank ON 10.3 10.4 9.8 11.1 -4.9 -5.1 -3.1 -3.6 USD/MYR 3.1 3.06 3.02

Phillipines Repo Rate 6.2 USD/PHP 41.4 41.2 41

Singapore Domestic IBOR rate 1.7 USD/SGD 1.23 1.22 1.21

Taiwan Discount Rate 2 2.13 2.25 USD/TWD 29.4 29.2 29

Thailand Repurchase Rate USD/THB 30.9 30.6 30.3

Vietnam Base Rate USD/VND 21500 21500 21500

LatAm

Argentina Deposit 1DY Rate USD/ARS 5 5.22 5.45

Brazil 3 3.8 4.9 3.6 5 5.3 5.4 5.1 SELIC Rate 7.25 7.25 7.25 7.25 4.6 6.4 6 5.6 -2 USD/BRL 2 2.03 2.05

Chile Monetary Policy Rate 5 USD/CLP 490 500 500

Colombia Deposit Rate 5.25 USD/COP 1770 1750 1725

Mexico 2.4 2.7 2.9 3.9 4 4 Overnight rate 4.5 4.5 4.5 5 4.5 4.9 4.5 -1.6 -0.9 -0.5 USD/MXN 13.5 13.35 13.2

Peru Reference Rate USD/PEN 2.6 2.58 2.56


Policy Rate (%)

Economic Forecasts - HSBCFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %) Unemployment (%) 10-Year Note (%)


+-)-+).+-.


G-10

USA 2 0.7 1.5 2.3 2.1 2.1 1.3 1.8 Fed Funds Rate 0.25 0.25 0.25 0.25 8 8.1 8 7.8 -2.9 -3 -3 -3.1 0.4 0.4 0.4 0.4 0.3 0.3 0.5 0.6 1.4 1.3 1.5 1.5 EUR/USD

Japan BOJ overnight rate 0.05 0.05 0.05 0.05 0.3 0.4 0.4 0.4 0.9 1.1 1.2 1.5 USD/JPY

Euro -0.3 2.4 2 1.9 1.8 ECB Rate 0.5 0.5 0.5 0.5 0.3 0.4 0.5 0.6 EUR/USD

United Kingdom Official Bank Rate 0.5 0.5 0.5 0.5 0.65 0.7 0.7 0.7 1.4 1.3 1.4 1.5 USD/GBP

Canada Overnight lending rate 1 1 1.25 1.5 1.3 1.3 1.6 1.8 1.6 1.6 1.9 2.2 USD/CAD

Australia 2.8 3.1 1.5 2 RBA Cash Rate 3.25 3 3 3 3.2 3 3 3.2 3 3 3.2 3.6 USD/AUD

Sweden 1.5 1.5 1.3 0.8 Decision Rate 1.25 1.25 1.25 1.25 1.6 1.6 1.6 1.72 1.4 1.4 1.4 1.5 USD/SEK

New Zealand Cash Rate 2.5 2.5 2.75 3 2.8 2.8 3.1 3.4 3.5 3.5 3.6 3.8 USD/NZD

Switzerland Reference Rate 0 0 0 0 0.05 0.1 0.2 0.2 0.5 0.8 0.9 1.1 USD/CHF

Denmark 1 2.4 2.6 Discount rate USD/DKK

Norway 2.7 0.9 2 Deposit Rate 1.25 1.25 1.25 1.25 1.8 1.8 1.8 1.85 USD/NOK

Germany 1 1.5 1.4 1.6 1.9 ECB Rate 0.5 0.5 0.5 0.5 6.7 6.6 6.5 6.4 0 0.25 0.5 0.6 1.3 1.3 1.4 1.4 EUR/USD

France 0.4 0.8 1.3 1.8 1.5 1.5 1.5 ECB Rate 0.5 0.5 0.5 0.5 10.2 10.1 10 -1.9 -1.8 -1.9 3.1 3.1 3 2.2 EUR/USD

Italy -2 2.7 3.1 ECB Rate 0.5 0.5 0.5 0.5 5.8 6.3 5.9 5.4 EUR/USD

Eastern Europe

Czech Republic 0.5 3.7 3.3 3.5 2w Repo rate 0.25 0.25 0.25 0.25 0.8 0.8 0.8 0.9 2.2 2 2.2 2.3 2.4 2.4 2.8 2.9 EUR/CZK

Hungary 0.8 5.2 Base Rate 6.5 6.25 5.75 5.5 7.5 7.3 7.1 6.9 EUR/HUF

Poland 1.7 1.6 3.5 3 Reference Rate 4.5 4 3.75 3.75 -4.8 -4.1 4.7 4.13 3.94 3.94 4.69 4.66 4.75 4.75 4.69 4.66 4.75 4.75 EUR/PLN

Slovakia 0.7 1 2.7 3.1 3.5 3.3 3.6 3.6 Key policy rate 13.5 13.6 13.1 13 1.7 1.7 1.7 1.8 EUR/SKK

Russia 2.9 2.9 3.4 4.7 6.8 7.1 7 6.7 Refinance Rate 8.25 8.25 8.25 8 6 6.3 6.1 5.9 2.3 6.2 0.9 0.1 USD/RUB

Turkey 1wk Repo Rate 5.75 5.75 5.75 5.75 7.9 7.8 7.7 7.6 USD/TRY

Iceland 3.9 5.4 1wk Repo Rate 6 6 5.5 5.5 USD/ISK

MEA


South Africa Repo Rate USD/ZAR








Asia

China 7.1 8.1 2.5 2.9 Lending Rate USD/CNY

Hong Kong Base Rate 0.4 0.4 0.4 0.45 0.8 0.8 0.9 0.9 USD/HKD

India Reverse Repo Rate 7.9 7.75 7.5 7.5 USD/INR

Indonesia 6.5 5.1 Reference Rate 5.5 5.25 5.25 5 4.5 4.25 4.25 4 5 5 5 5 USD/IDR

South Korea Base Rate 2.75 2.75 2.75 2.75 USD/KRW

Malaysia BN Interbank ON 3 3 3 3 3.1 3.1 3.1 3.1 USD/MYR

Phillipines Repo Rate 3.5 3.5 3.5 3.5 2 2.2 2.3 2.4 USD/PHP

Singapore Domestic IBOR rate 0.35 0.35 0.35 0.4 1.3 1.3 1.4 1.4 USD/SGD

Taiwan Discount Rate 1.88 1.88 1.88 1.88 0.8 0.8 0.8 0.8 1.18 1.16 1.14 1.12 USD/TWD

Thailand Repurchase Rate 3 3 3 3 3.1 3.1 3.1 3.1 3 3 3 3 USD/THB


LatAm


Brazil SELIC Rate 7.25 7.25 7.25 7.25 USD/BRL



Mexico 1 2.3 4 4 Overnight rate 4 4 4 4 4.8 5 5 5.2 USD/MXN




Economic Forecasts - ING GroepFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %) Unemployment (%)


+-)-+).+-.


G-10

USA 2 1.5 2.3 2.5 2 2.1 1.7 2.1 Fed Funds Rate 0.25 0.25 0.25 0.25 8.2 8.2 8.1 8.1 -3.4 -3.5 -3.5 0.5 0.5 0.3 0.3 2.5 2.5 EUR/USD 1.3 1.3 1.32 1.34

Japan 0 1 1.2 1.3 0 -0.3 -0.2 0.1 BOJ overnight rate 0.1 0.1 0.1 0.1 4.3 4.1 4.1 4.1 0.9 0.9 0.9 1 0.9 0.7 0.8 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.85 0.9 0.9 0.9 USD/JPY 78 79 79 79

Euro -0.5 0.5 0.5 1 2.5 2 2 1.6 ECB Rate 0.5 0.5 0.5 0.5 11.5 11.5 11.5 11.4 0.4 0.5 0.5 EUR/USD 1.3 1.3 1.32 1.34

United Kingdom -0.2 0.5 1.5 2.7 2.5 2.6 Official Bank Rate 0.5 0.5 0.5 0.5 8.6 8.7 8.7 -1 -1 -0.7 1.85 2 2.15 1.5 1.7 1.8 USD/GBP 1.62 1.62 1.63 1.65

Canada 2 2.1 2.1 2.2 2.4 2.2 2 2.1 Overnight lending rate 1 1.25 1.25 1.5 7.3 7.3 7.2 7.2 -3.7 -3.6 -3.5 -3.3 USD/CAD 0.98 0.97 0.96 0.94

Australia 2.9 2.4 2.4 2.5 1.7 3.4 2.7 3 RBA Cash Rate 3.25 3 3 3 5.5 5.5 5.4 5.4 -4.4 -4.6 -4.6 -4.7 3 3.25 3.25 3.25 3.5 3.25 3.4 3.6 3.85 USD/AUD 1.04 1.04 1.05 1.06

Sweden 1.9 2.1 Decision Rate 2.25 USD/SEK 6.54 6.5 6.36 6.27

New Zealand 2.8 2.3 3 3 2.5 2.7 2.8 2.8 Cash Rate 2.5 3 3 3.25 5.9 5.7 5.5 5.3 -6.8 -5 -6.8 -8.2 4 4.4 4.4 4.4 USD/NZD 0.82 0.81 0.8 0.79

Switzerland Reference Rate USD/CHF 0.92 0.92 0.87 0.86


Norway 2 1.6 Deposit Rate 2.2 USD/NOK 5.65 5.62 5.49 5.41

Germany 1 0.8 0.9 2.1 1.6 1.8 1.6 ECB Rate 0.5 0.5 0.5 0.5 0.9 1 1.2 EUR/USD 1.3 1.3 1.32 1.34

France -0.1 0.1 0.4 2.1 1.8 1.5 ECB Rate 0.5 0.5 0.5 0.5 EUR/USD 1.3 1.3 1.32 1.34

Italy -2.5 -1.9 -1.3 3.1 2.9 2.2 ECB Rate 0.5 0.5 0.5 0.5 EUR/USD 1.3 1.3 1.32 1.34

Eastern Europe

Czech Republic -1.6 2.3 3.8 2.9 2.5 2.4 2.2 2w Repo rate 0.75 0.75 0.75 1 EUR/CZK 25 24.8 24.8 24.7

Hungary -1.1 0 0.6 1.2 5.9 3.5 5 3.5 Base Rate EUR/HUF 290 265 265 270

Poland 1.7 1.6 1.7 2.3 3.7 2.9 2.6 2.8 Reference Rate EUR/PLN 4.1 4.2 4.2 4.15


Russia 2.5 2.4 2.8 3.4 6.7 7.8 7.4 6.3 Refinance Rate 8.5 8.5 8.5 8.5 5.9 6.3 5.3 5.4 USD/RUB 30.84 30.84 30.81 30.79

Turkey 1.1 3.3 3.3 4.4 7.5 5.8 6.5 6.4 1wk Repo Rate USD/TRY 1.8 1.75 1.75 1.7


MEA

Israel 2.5 2.9 4 5 1.3 1.3 1.5 2.5 Discount rate 2 2 2 2.25 USD/ILS 3.98 3.95 3.9 3.9

South Africa 2.7 2.9 2.9 3.2 5.5 5.5 5.6 5.8 Repo Rate 4.5 4.5 4.5 4.5 USD/ZAR 8.5 8.5 8.5 8.5








Asia

China 7.3 7.8 8.2 8.6 2.5 3.4 3.5 3.8 Lending Rate 5.75 5.75 6 6 USD/CNY 6.32 6.32 6.3 6.25

Hong Kong 1.6 1.9 2.9 3.6 2.5 2.6 2.7 4.6 Base Rate 3.5 USD/HKD 7.8 7.8 7.8 7.8

India 5.4 5.3 5.5 9.8 9.3 9 Reverse Repo Rate USD/INR 54 55 55.5 56

Indonesia 4.2 3.9 3.5 3.9 3.4 2.2 Reference Rate 5.75 5.75 5.75 5.75 USD/IDR 9750 9900 9900 9900

South Korea 1.9 3 Base Rate 2.75 2.75 2.75 USD/KRW 1125 1125 1110 1100

Malaysia 3.9 3 2.2 2.9 1.1 1.1 1.2 1.2 BN Interbank ON USD/MYR 3.04 3 2.98 2.98

Phillipines 3.9 1.9 2.8 3.6 2.3 2.4 2.3 3 Repo Rate 3.5 3.5 3.5 3.5 USD/PHP 41.2 41.2 40.5 40

Singapore 3.4 2.1 3.3 4.1 4.1 2.8 3.3 3 Domestic IBOR rate 2.3 2.2 2.2 2.2 USD/SGD 1.21 1.2 1.19 1.19

Taiwan 3.1 2.5 3.9 4.4 2.1 2 1.8 1.2 Discount Rate 1.63 1.63 1.63 1.63 4.1 USD/TWD 29.6 29.5 29.4 29.4

Thailand 15.6 4.7 1.9 1.3 1.9 1.1 Repurchase Rate 2.75 2.75 2.75 2.75 USD/THB 30.5 30.3 30.1 30.1

Vietnam 6.1 5.2 6.5 6.8 7.9 9 9.9 10 Base Rate USD/VND

LatAm

Argentina 3.2 2.3 3.8 11 11 Deposit 1DY Rate USD/ARS 5 5.2 5.35 5.55

Brazil 2.9 3.7 4.3 4.2 5.4 5.5 5.5 5.3 SELIC Rate 7.5 7.5 8.25 9 USD/BRL 1.98 1.95 1.95 1.95

Chile 4.6 4.4 3.8 4.4 2.5 3 3.1 3.2 Monetary Policy Rate 5 5 5 5 USD/CLP 475 475 475 475

Colombia 2.3 3.3 4.3 3.1 3 3.2 Deposit Rate 4.75 4.75 4.75 USD/COP 1775 1775 1775 1775

Mexico 3.4 3.3 3.3 3.6 4.4 3.9 4.1 3.5 Overnight rate 4.5 4.5 4.5 4.5 USD/MXN 12.5 12.2 12 11.9

Peru 6.4 6.4 6.9 7.2 3.1 3 2.8 2.5 Reference Rate 4.25 4.25 4.25 USD/PEN 2.6 2.59 2.58 2.57

Venezuela 2.7 -0.5 -0.7 -0.8 23.4 31.7 37.3 38.1 Deposit Rate USD/VEF

Policy Rate (%)

Economic Forecasts - JP MorganFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %) Unemployment (%) 10-Year Note (%)


+-)-+).+-.


G-10

USA 1.2 2 2.5 3.2 2.1 1.7 2.4 2.2 Fed Funds Rate 0.25 0.25 0.25 0.25 8.3 8.1 8 7.9 -3.4 -3.7 -3.6 -3.4 -7.5 -7.1 -5.8 -5.7 0.46 0.4 0.4 0.4 0.35 0.28 0.3 0.4 1.7 1.8 1.85 1.9 EUR/USD

Japan 1.6 1.6 BOJ overnight rate 4.2 4.2 0.4 0.5 USD/JPY


United Kingdom 2.1 2.1 2.2 2 Official Bank Rate 8.7 8.6 8.6 8.5 USD/GBP

Canada Overnight lending rate USD/CAD

Australia 3.2 2.7 3.1 3.2 2.2 2.9 3 2.4 RBA Cash Rate 3.25 3.25 3.25 3.5 5 5 5 5 USD/AUD


New Zealand 2.2 1.9 2.7 2.8 1.7 2 2.4 2.2 Cash Rate 2.5 2 2.5 2.75 6.3 6 5.5 5.1 -2.3 -2.6 -2.1 -2 -6 -5.8 -3.1 -5 3.4 3.4 3.6 3.7 USD/NZD




Germany ECB Rate EUR/USD

France 0 0.1 0.7 1.3 1.6 1.4 1.8 2 ECB Rate 10 10 10 9.9 -0.5 -0.5 -0.4 -0.4 4.31 4.71 5.11 5.24 EUR/USD

Italy ECB Rate EUR/USD

Eastern Europe

Czech Republic 2w Repo rate EUR/CZK

Hungary Base Rate EUR/HUF

Poland Reference Rate EUR/PLN





MEA










Asia

China Lending Rate USD/CNY


India Reverse Repo Rate USD/INR

Indonesia Reference Rate USD/IDR

South Korea Base Rate USD/KRW

Malaysia BN Interbank ON USD/MYR

Phillipines Repo Rate USD/PHP

Singapore Domestic IBOR rate USD/SGD

Taiwan Discount Rate USD/TWD

Thailand Repurchase Rate USD/THB


LatAm


Brazil SELIC Rate USD/BRL







Economic Forecasts - Moody'sFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %)


+-)-+).+-.


G-10

USA 1.2 0.9 1.4 2 2.1 1.8 1.9 1.9 Fed Funds Rate 0.25 0.25 0.25 0.25 8.2 8.2 8.1 8.1 -2.9 -2.9 -2.9 -2.9 0.45 0.45 0.45 0.45 0.36 0.27 0.26 0.29 2.05 1.95 1.8 1.85 EUR/USD 1.19 1.15 1.19 1.22

Japan -1.4 1.1 1.2 1.8 0.1 -0.2 -0.5 -0.5 BOJ overnight rate 0.1 0.1 0.1 0.1 4.6 4.6 4.6 4.6 0.8 2.2 1.6 2.4 0.18 0.18 0.18 0.18 0.12 0.12 0.12 0.12 1.1 1.1 1.1 1.1 USD/JPY 78 80 83 86

Euro 0.9 2.4 1.8 1.5 1.3 ECB Rate 0.25 0.25 0.25 0.25 10.5 0.8 EUR/USD 1.19 1.15 1.19 1.22

United Kingdom 2 2.2 2.3 2.4 Official Bank Rate 0.25 0.25 0.25 0.25 0.9 1 1.7 2.2 2.4 USD/GBP 1.51 1.46 1.47 1.51

Canada 2.9 2 Overnight lending rate 1 1.25 1.5 1.75 USD/CAD 1.06 1.1 1.08 1.07

Australia RBA Cash Rate 3 2.5 2.25 2.25 USD/AUD 0.95 0.91 0.93 0.94

Sweden Decision Rate 1.5 1.5 1.5 1.75 USD/SEK 7.73 8.17 7.73 7.46

New Zealand Cash Rate 2.5 2.5 2.75 3 USD/NZD 0.75 0.7 0.72 0.74

Switzerland Reference Rate 0 0 0.25 0.5 0.5 USD/CHF 1.01 0.96 0.92 0.94


Norway Deposit Rate 1.5 1.75 1.75 2 USD/NOK 6.43 6.7 6.43 6.23

Germany 1.8 1.4 ECB Rate 0.25 0.25 0.25 0.25 1.5 1.6 1.7 EUR/USD 1.19 1.15 1.19 1.22

France ECB Rate 0.25 0.25 0.25 0.25 2.55 2.65 EUR/USD 1.19 1.15 1.19 1.22

Italy ECB Rate 0.25 0.25 0.25 0.25 5.5 5.1 EUR/USD 1.19 1.15 1.19 1.22

Eastern Europe

Czech Republic 2w Repo rate 0.25 0.5 1 1.25 EUR/CZK 25.8 25.6 25.4 25.2

Hungary Base Rate 6.5 6.25 6 5.75 EUR/HUF 270 270 267 265

Poland 3.3 Reference Rate 4.5 4 3.75 3.75 -6 -5.5 EUR/PLN 4 3.97 3.95 3.93


Russia 3.4 3.4 3.9 3.8 7 7 6.7 6.2 Refinance Rate 5.75 5.75 5.75 5.75 5.4 6.5 1.9 1.4 USD/RUB 31.41 31.1 30.86 31.21

Turkey 1wk Repo Rate 5.75 5.75 5.75 5.75 USD/TRY 1.75 1.75 1.73 1.72


MEA

Israel Discount rate 2.5 2.5 2.75 3.25 USD/ILS 3.95 3.9 3.85 3.8

South Africa 2.7 3 3.5 3.8 5.2 5.7 Repo Rate 5 5 5 5 -3.9 USD/ZAR 8 8.1 8.25 8.35








Asia

China 7.2 7.6 7.9 8.2 2.3 2.1 3.3 3.4 Lending Rate 6.06 6.06 6.06 6.06 USD/CNY 6.3 6.3 6.3 6.27

Hong Kong 1.6 2.5 2.9 4.5 3.2 3.6 4.3 6.9 Base Rate 7.7 1.5 -5.7 4.5 0.4 0.4 0.4 0.4 USD/HKD 7.8 7.8 7.8 7.8

India Reverse Repo Rate USD/INR 56 55 54 53

Indonesia Reference Rate 5.75 5.75 5.75 5.75 USD/IDR 9800 9750 9700 9650

South Korea Base Rate 3 3 3 3 USD/KRW 1150 1133 1115 1098

Malaysia BN Interbank ON 3 3 3 3 USD/MYR 3.1 3.08 3.05 3.03

Phillipines Repo Rate USD/PHP 40.8 40.4 40.1 39.8

Singapore Domestic IBOR rate USD/SGD 1.25 1.24 1.22 1.21

Taiwan 3 3.6 4.3 3.1 2.1 2 1.8 1.5 Discount Rate 1.88 1.88 1.88 1.88 4.2 4.3 4.2 4.1 USD/TWD 29.8 29.4 29.1 28.8

Thailand Repurchase Rate 3 3 3 3 USD/THB 31.3 30.9 30.5 30


LatAm

Argentina Deposit 1DY Rate USD/ARS 4.95 5.14 5.33 7

Brazil 5 5.2 5.3 5.2 SELIC Rate 7.25 7.25 7.25 7.25 USD/BRL 1.9 1.9 1.9 1.9

Chile 3.4 Monetary Policy Rate 4.75 4.75 4.75 4.75 USD/CLP 490 486 483 479

Colombia 3.5 Deposit Rate 5.25 5.25 5.25 5.25 USD/COP 1800 1788 1775 1763

Mexico 4 Overnight rate 4.5 4.5 4.5 4.5 USD/MXN 12.8 12.7 12.6 12.5

Peru Reference Rate 4.25 4.25 4.25 4.25 USD/PEN 2.55 2.54 2.53 2.51



Economic Forecasts - Morgan StanleyFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %) Unemployment (%)


+-)-+).+-.


G-10

USA 1.8 1.8 1.8 1.8 Fed Funds Rate 0.25 0.25 9.3 9.3 -3.4 0.3 0.3 0.4 0.45 2.1 2.4 EUR/USD

Japan BOJ overnight rate 0.1 0.1 0.1 0.1 0.93 1.03 1.1 1.17 USD/JPY


United Kingdom Official Bank Rate USD/GBP

Canada Overnight lending rate USD/CAD

Australia RBA Cash Rate USD/AUD


New Zealand Cash Rate USD/NZD




Germany ECB Rate EUR/USD

France ECB Rate EUR/USD

Italy -2.1 -1.4 -0.7 -0.3 2.2 1.9 1.7 2 ECB Rate 11.1 11.3 11.3 11.2 5.9 5.7 5.2 4.65 EUR/USD

Eastern Europe








MEA










Asia

China 8.2 8 8.3 8.2 2.8 2.8 4.2 4.9 Lending Rate 6 6 6 6 2.6 -2.5 USD/CNY

Hong Kong 1.7 1.8 2.6 2.8 0.9 0.9 1 3.7 Base Rate 9.3 1.2 USD/HKD

India 5.9 Reverse Repo Rate USD/INR

Indonesia Reference Rate USD/IDR

South Korea Base Rate 2.75 USD/KRW

Malaysia BN Interbank ON USD/MYR

Phillipines Repo Rate USD/PHP

Singapore Domestic IBOR rate 0.25 USD/SGD

Taiwan 2.2 2 1.5 2.2 1.8 2.8 2.1 1.2 Discount Rate 1.88 1.88 1.88 1.88 8.9 -2.8 USD/TWD

Thailand Repurchase Rate USD/THB


LatAm


Brazil SELIC Rate USD/BRL






Economic Forecasts - NatixisFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %) Unemployment (%) 10-Year Note (%)Policy Rate (%)


+-)-+).+-.


G-10

USA Fed Funds Rate 0.25 0.25 0.25 0.25 0.45 0.45 0.45 0.45 1.7 1.8 2.05 2.25 EUR/USD 1.27 1.23 1.21 1.21

Japan BOJ overnight rate USD/JPY 82 83 84 85

Euro ECB Rate 0.5 0.5 0.5 0.5 0.15 0.2 0.2 0.3 EUR/USD 1.27 1.23 1.21 1.21

United Kingdom Official Bank Rate 0.5 0.5 0.5 0.5 0.6 0.65 0.7 0.8 1.55 1.85 2.1 2.25 USD/GBP 1.59 1.55 1.53 1.58

Canada Overnight lending rate USD/CAD 0.98 0.99 1 0.98

Australia RBA Cash Rate 3.25 3.25 3.25 3.5 3.75 3.75 3.75 4 USD/AUD 1.07 1.05 1.03 1



Switzerland Reference Rate USD/CHF 0.95 0.98 1 1



Germany ECB Rate 0.5 0.5 0.5 0.5 1.35 1.5 1.65 1.95 EUR/USD 1.27 1.23 1.21 1.21

France ECB Rate 0.5 0.5 0.5 0.5 EUR/USD 1.27 1.23 1.21 1.21

Italy ECB Rate 0.5 0.5 0.5 0.5 EUR/USD 1.27 1.23 1.21 1.21

Eastern Europe






Turkey 1wk Repo Rate USD/TRY 1.7 1.65 1.63 1.6


MEA


South Africa Repo Rate 5 5 5 5 7 7.1 7.2 7.3 USD/ZAR 8.25 8.35 8.2 8.1


Egypt Re Discount Rate USD/EGP 6.08 6.17 6.18 6.15



Qatar Repo Rate USD/QAR 3.64 3.64 3.64 3.64

Saudi Arabia Re Repo Rate USD/SAR 3.75 3.75 3.75 3.75

United Arab Emirates 1wk Repo Rate USD/AED 3.67 3.67 3.67 3.67

Asia

China 8.4 8.7 9.2 8.9 1.8 2.3 3 3.9 Lending Rate 6 6 6 6 3.25 3.3 3.4 3.4 USD/CNY 6.31 6.29 6.27 6.23

Hong Kong Base Rate 0.4 0.4 0.4 0.4 0.75 0.8 0.9 0.95 USD/HKD 7.79 7.79 7.78 7.77

India Reverse Repo Rate 8 7.75 7.5 7.5 USD/INR 55.5 55 57.5 56

Indonesia 5.4 5.7 5.7 5.8 4.5 4.8 4.4 4.4 Reference Rate 5.75 5.75 5.75 6 5.2 5.3 5.3 5.5 5.5 5.6 5.8 6 USD/IDR 9300 9100 9300 9200

South Korea 2.5 2.4 3.1 3.5 2.2 2.5 3.2 3.4 Base Rate 2.5 2.5 2.5 2.5 3.5 3.5 3.5 3.5 2.8 2.8 2.9 3 USD/KRW 1100 1070 1070 1060

Malaysia 3.4 3.7 4.7 5.4 1.9 2.2 2.7 2.7 BN Interbank ON 3 3 3 3 3.2 3.2 3.2 3.2 3.5 3.6 3.75 3.75 USD/MYR 3.07 3 3.05 3

Phillipines 3.9 3.4 3.7 4.7 4.7 4.8 4.6 4.1 Repo Rate 3.5 3.5 3.75 4 2 2.5 3 3.25 4.8 5.1 5.3 5.5 USD/PHP 40.5 40 41 40.5

Singapore 3.5 3 4.2 4.7 3.8 3.4 3 3.4 Domestic IBOR rate 0.35 0.35 0.35 0.35 1.4 1.5 1.6 1.65 USD/SGD 1.24 1.22 1.23 1.21

Taiwan Discount Rate 1.88 1.88 2 2.13 1.88 1.88 2 2.13 1.3 1.3 1.4 1.5 USD/TWD 29 28.7 28.5 28.3

Thailand Repurchase Rate 2.75 2.75 2.5 2.5 2.8 2.75 2.55 2.6 3.5 3.6 3.75 3.9 USD/THB 31.1 30.6 31.4 31

Vietnam 6.2 8.1 10.7 12.2 Base Rate USD/VND 21000 21000 21000 21000

LatAm

Argentina Deposit 1DY Rate USD/ARS 4.95 5.05 5.25 5.45

Brazil 5.2 5.7 5.8 5.3 SELIC Rate 7 7 7.5 8 USD/BRL 2.02 2 1.95 1.92

Chile Monetary Policy Rate USD/CLP 475 480 475 470

Colombia Deposit Rate USD/COP 1785 1795 1775 1760

Mexico Overnight rate 4.5 USD/MXN 12.5 12.5 12.4 12.2

Peru Reference Rate USD/PEN 2.59 2.6 2.6 2.57



Economic Forecasts - Standard CharteredFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %) Unemployment (%)


+-)-+).+-.


G-10

USA 2.5 1.2 1.7 2.2 1.6 1.4 1.2 1.8 Fed Funds Rate 0.25 0.25 0.25 0.25 8 8 8 8 -3 -2.7 -2.5 -2.4 0.51 0.51 0.51 0.51 0.3 0.3 0.3 0.3 1.4 1.7 2 2 EUR/USD 1.21 1.19 1.18

Japan -0.1 BOJ overnight rate USD/JPY 83 84 86

Euro -0.7 -0.6 -0.2 0.2 2.5 2.5 2.3 2.3 ECB Rate 0.5 0.5 0.5 0.5 11.5 11.6 11.7 11.7 EUR/USD 1.21 1.19 1.18

United Kingdom 0.3 0.8 1.7 1.1 2.2 2.1 2.1 2 Official Bank Rate 0.25 0.25 0.25 0.25 8 8.1 8.3 8.5 1.85 1.9 2.05 2.05 USD/GBP 1.57 1.57 1.57

Canada Overnight lending rate 1.75 2 1.95 1.95 2.25 2.45 3.15 3.3 USD/CAD 0.98 0.97 0.96

Australia RBA Cash Rate USD/AUD 0.95 0.93 0.96

Sweden 1.2 1.3 1.7 2.2 Decision Rate 1.5 1.5 1.75 7.8 7.9 7.9 USD/SEK 7.27 7.31 7.29

New Zealand Cash Rate USD/NZD 0.78 0.78 0.78

Switzerland 0.1 0.4 0.5 Reference Rate 0 0 0.25 3.5 3.6 3.5 USD/CHF 0.99 1.01 1.02


Norway 1.3 1.6 1.9 Deposit Rate 1.5 1.5 1.75 2.4 2.4 2.3 USD/NOK 6.12 6.22 6.23

Germany 1 0.8 1.1 1.4 2.2 2.2 2.4 2.3 ECB Rate 0.5 0.5 0.5 0.5 6.8 6.8 6.8 6.7 1.75 2 2.25 2.25 EUR/USD 1.21 1.19 1.18

France 0.2 0.4 0.4 0.5 2.7 2.5 2.1 2 ECB Rate 0.5 0.5 0.5 0.5 10.6 10.8 11.1 11.3 -2.3 -2.3 EUR/USD 1.21 1.19 1.18

Italy -2.6 -2.2 -1.6 -1.1 2.1 1.9 1.4 2.9 ECB Rate 0.5 0.5 0.5 0.5 12.1 12.7 13.2 13.7 EUR/USD 1.21 1.19 1.18

Eastern Europe

Czech Republic 3.1 2.3 2.3 2w Repo rate 0.5 0.5 0.5 0.5 EUR/CZK 25 24.7 24.6

Hungary Base Rate EUR/HUF 285 280 275

Poland 2.9 2.5 3.6 3.2 2.7 2.7 Reference Rate 4.75 4.5 4.25 4.25 10.5 10.2 10 9.8 -4.7 -4.8 EUR/PLN 3.9 3.9 3.9

Slovakia 2.2 1.7 1.5 Key policy rate 13.6 14.1 13.7 EUR/SKK

Russia 3.1 3.2 3.6 4 6.8 7.7 7.6 6.7 Refinance Rate 5.9 5.8 5.8 5.7 USD/RUB 32.9 32.25 33.75

Turkey 1wk Repo Rate USD/TRY 1.8 1.75 1.7


MEA

Israel Discount rate USD/ILS 3.8 3.75 3.7

South Africa Repo Rate USD/ZAR 8 7.75 7.5


Egypt Re Discount Rate USD/EGP 6 6






Asia

China 7.7 7.8 7.5 7.5 3.2 3 3.2 3.2 Lending Rate 5.75 5.75 5.75 5.75 4.3 4.3 4.3 4.3 3.3 3.25 3.25 3.25 USD/CNY 6.35 6.3 6.28

Hong Kong Base Rate USD/HKD 7.76 7.76 7.76

India Reverse Repo Rate USD/INR 55 53 52

Indonesia Reference Rate USD/IDR 9300 9000 8700

South Korea 1.5 1.7 2.4 3.1 Base Rate 3.4 3.4 3.5 3.5 USD/KRW 1140 1100 1050

Malaysia BN Interbank ON USD/MYR 3.1 3.05 3

Phillipines Repo Rate USD/PHP 42 42 42

Singapore Domestic IBOR rate USD/SGD 1.26 1.23 1.21

Taiwan Discount Rate 1.38 USD/TWD 29.5 29.3 29

Thailand Repurchase Rate USD/THB 31.3 30.8 30


LatAm

Argentina Deposit 1DY Rate USD/ARS 4.37

Brazil SELIC Rate USD/BRL 1.95 1.85 1.75

Chile Monetary Policy Rate USD/CLP 505 480 470

Colombia Deposit Rate USD/COP 1775 1750 1750

Mexico Overnight rate USD/MXN 13.35 12.75 12.5




Economic Forecasts - Societe GeneraleFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %) CPI (yoy %)


+-)-+).+-.


G-10

USA 1.8 2.7 2.8 2.7 1.7 1.5 1.7 1.9 Fed Funds Rate 0.25 0.25 0.25 0.25 8 7.9 7.7 7.6 -2.9 0.45 0.45 0.4 0.4 1.6 1.9 2.1 2.25 EUR/USD 1.2 1.1

Japan 0.2 0.5 0.6 0.8 0.1 0 0.1 0.5 BOJ overnight rate 0.1 0.1 0.1 0.1 4.2 4.2 4.1 4.1 1.1 2.8 0.8 2.1 0.2 0.25 0.25 0.3 0.1 0.1 0.1 0.15 0.85 1 1.1 1.2 USD/JPY 78 90

Euro -0.2 -0.1 0.3 0.5 2.2 2 1.8 1.7 ECB Rate 0.75 0.75 0.75 0.75 11 11 11 10.9 0.75 0.75 0.75 0.75 EUR/USD 1.2 1.1

United Kingdom 1 1.1 1.7 2 Official Bank Rate 0.5 0.5 0.5 0.5 0.4 0.4 0.4 0.4 2 2.2 2.3 2.4 USD/GBP 1.55 1.46

Canada 2.2 2.5 2.6 2.6 2.4 2.4 2.3 2.2 Overnight lending rate 1 1 1 1.25 7.2 7.1 7.1 7 -2.1 -2 -2 -1.9 1 1 1 1.25 1.8 2.1 2.3 2.45 USD/CAD 1.03 1.08

Australia 3.5 3 3.2 3.3 2.1 2.6 2.6 2.4 RBA Cash Rate 3 3 3 3 5.4 5.3 5.2 5.1 -5.2 -5.3 -5.7 -6 3.1 3.1 3.1 3.1 3.3 3.7 3.9 3.3 3.4 3.6 3.9 USD/AUD 1 1

Sweden Decision Rate 1 1 1 1 1.2 1.2 1.2 1.2 1.9 2 2.1 2.2 USD/SEK 6.31

New Zealand 3.3 3.4 3.6 3.6 1.8 1.9 2.3 2.5 Cash Rate 2.5 2.75 3 3.25 5.9 5.6 5.5 5.4 2.9 3.1 3.3 3.5 4.9 5.2 5.4 5.5 USD/NZD 0.8 0.77

Switzerland Reference Rate 0 0 0 0 0 0 0 0 1 1.1 1.2 1.3 USD/CHF 1 1.09

Denmark Discount rate USD/DKK 5.74

Norway Deposit Rate 1.5 1.5 1.5 1.5 1.8 2 2.1 2.2 USD/NOK 5.46

Germany 1 0.8 1.4 1.5 1.3 1.5 1.7 ECB Rate 0.75 0.75 0.75 0.75 6.7 6.7 6.7 4.8 4.5 4.4 1.8 1.9 2 2.1 EUR/USD 1.2 1.1

France ECB Rate 0.75 0.75 0.75 0.75 2.6 2.7 2.8 2.9 EUR/USD 1.2 1.1

Italy -0.5 0.1 ECB Rate 0.75 0.75 0.75 0.75 8.6 8.5 5.5 4.9 5 5.1 EUR/USD 1.2 1.1

Eastern Europe

Czech Republic 2w Repo rate EUR/CZK 25 24

Hungary Base Rate EUR/HUF 280 270

Poland 2.9 Reference Rate EUR/PLN 4 3.8

Slovakia Key policy rate EUR/SKK 30.1

Russia Refinance Rate USD/RUB 29 28.2

Turkey 1wk Repo Rate USD/TRY 1.75


MEA

Israel Discount rate USD/ILS 3.8 3.75

South Africa Repo Rate USD/ZAR 8.26 8.26


Egypt Re Discount Rate USD/EGP 6.75

Kuwait Discount rate USD/KWD 0



Saudi Arabia Re Repo Rate USD/SAR 3.75 3.75

United Arab Emirates 1wk Repo Rate USD/AED 0

Asia

China 7 8.4 8.7 8.2 2.7 3.2 3.7 4.2 Lending Rate 6.56 USD/CNY 6.3 6.1

Hong Kong Base Rate 0.28 0.28 0.28 0.5 1.8 1.85 1.9 1.95 USD/HKD 7.8 7.8

India Reverse Repo Rate 8.2 8.2 8.5 8.5 USD/INR 56 50

Indonesia Reference Rate 5.75 5.75 5.75 6.25 8 8.5 8.5 8.5 USD/IDR 8700 8700

South Korea Base Rate 2.75 2.75 2.75 2.75 USD/KRW 1150 1075

Malaysia 3.4 5 4.2 5.1 2.2 3.5 3 3.5 BN Interbank ON 3 3 3.5 3.5 3 3.2 3.2 3.1 3.14 3.14 3.64 3.64 4 4 4 4 USD/MYR 3 2.8

Phillipines 3.8 2.6 5.3 5.4 3.7 4.6 4.6 4.7 Repo Rate 3.75 4 4.25 4.5 7 6.9 6.9 6.2 3.25 3.5 3.75 4 7 7 7 7 USD/PHP 42 40

Singapore Domestic IBOR rate 0.4 0.4 0.7 0.8 2.4 2.55 2.7 2.85 USD/SGD 1.2 1.15

Taiwan Discount Rate 1.88 2 2.13 2.25 0.92 0.98 1.04 1.1 1.25 1.3 1.35 1.35 USD/TWD 30.5 30

Thailand 16.3 5.8 4.4 3.9 2.4 2.7 3.2 3.5 Repurchase Rate 2.75 2.75 3.25 3.5 3.05 3.05 3.55 3.8 3.5 4 4 4 USD/THB 30 27

Vietnam Base Rate USD/VND 0

LatAm

Argentina Deposit 1DY Rate USD/ARS 4.95

Brazil SELIC Rate USD/BRL 1.85 1.7

Chile 4.5 4.5 4.3 4.7 2.1 2.4 3.7 3.8 Monetary Policy Rate 5 5 5 5 6.3 6.7 6.5 6.5 -5.1 -6 -6.6 -4.5 2.5 USD/CLP 500 480

Colombia 4.1 4.7 4.3 4.3 3.2 2.6 2.7 3 Deposit Rate 4.5 4.5 4.5 4.5 12.3 12.9 12.8 11.8 -7.8 -7.9 -11 -10.9 -2 -8 2 2 USD/COP 1790 1720

Mexico 3 3.3 3.3 3.4 3.7 3.6 3.6 3.7 Overnight rate 4.5 4.5 4.75 5 4.7 4.9 4.6 4.5 -1 -1 -1 -1.2 -1.6 -2.8 USD/MXN 13.25 11.71

Peru Reference Rate USD/PEN 2.65 2.55


CPI (yoy %) Unemployment (%) 10-Year Note (%)Policy Rate (%)

Economic Forecasts - UBSFX forecastsCurr Acct (% of GDP) Budget (% of GDP) 3-Month Rate (%) 2-Year Note (%)Real GDP (yoy %)


Documents

Economic Forecasts