Economic & Financial Forecasts
	2018	2019F	2020F
Real GDP (annual % change)
Canada	1.8	1.2	1.8
U.S.	2.9	2.4	2.0
Canada (rates, %)
Overnight Target Rate	1.75	1.75	1.75
2-yr Govt. Bond Yield	1.86	1.85	1.85
10-yr Govt. Bond Yield	1.96	2.10	2.10
U.S. (rates, %)
Fed Funds Target Rate	2.50	2.50	2.50
2-yr Govt. Bond Yield	2.48	2.50	2.50
10-yr Govt. Bond Yield	2.69	2.85	2.85
WTI, $US/bbl	59	62	66
Exchange Rate (USD per CAD)	0.73	0.75	0.76
F: Forecast by TD Economics, March 2019; Forecasts for oil price, exchange rate and yields are end-of-period. Source: Bloomberg, Bank of Canada, U.S. Federal Reserve.