| Economic & Financial Forecasts | |||
| 2018F | 2019F | 2020F | |
| Real GDP (annual % change) | |||
| Canada | 2.1 | 1.8 | 2.0 |
| U.S. | 2.9 | 2.5 | 1.9 |
| Canada (rates, %) | |||
| Overnight Target Rate | 1.75 | 2.25 | 2.50 |
| 2-yr Govt. Bond Yield | 2.05 | 2.50 | 2.55 |
| 10-yr Govt. Bond Yield | 2.20 | 2.80 | 2.85 |
| U.S. (rates, %) | |||
| Fed Funds Target Rate | 2.50 | 3.00 | 3.00 |
| 2-yr Govt. Bond Yield | 2.80 | 2.95 | 2.95 |
| 10-yr Govt. Bond Yield | 3.00 | 3.15 | 3.15 |
| WTI, $US/bbl | 60 | 65 | 66 |
| Exchange Rate (USD per CA | 0.76 | 0.78 | 0.79 |
| F: Forecast by TD Economics, December 2018; Forecasts for oil price, exchange rate and yields are end-of-period. Source: Bloomberg, Bank of Canada, U.S. Federal Reserve. | |||