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May 19, 2026

Financial Forecasts

Market ReportCommoditiesDerivativesFXEnergy

SEB provides comprehensive financial forecasts for central bank rates, government bond yields, FX, and commodities through 2027.

Key Takeaways

  • 1.The Federal Reserve is forecast to cut rates from 3.75% to 3.25% by Q1 2027.
  • 2.Brent crude oil prices are projected to decline significantly from $110/bbl in May 2026 to $83/bbl by 2027.
  • 3.The ECB is expected to raise the deposit rate from 2.00% to 2.25% in Q2 2026 and maintain that level through early 2027.

Table of Contents

  • Central banks
  • 2Y Gov
  • 10Y Gov
  • Commodities
  • FX
  • Cross rates
  • Germany
  • Sweden
  • Denmark
  • United States
  • Norway
  • United Kingdom
  • 10y spread vs. Germany

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Authors

Karl SteinerJussi HiljanenBjarne Schieldrop

Securities

Brent Crude OilEURUSDUS 10Y Government Bond

Themes

Central Bank Policy DivergenceCommodity Price Normalization

Regions

EuropeNorth AmericaAsia PacificUnited StatesGermanySweden