Wells Fargo Lifts Global GDP Forecast, Cuts CPI View on Lower Oil

Wells Fargo Economics has updated its macroeconomic projections, raising the global GDP growth forecast for 2026 to 2.7%, up from a prior estimate. At the same time, the firm trimmed its global consumer price index (CPI) forecast to 4.3%, reflecting expectations of a marginally lower oil price environment.

The revised outlook highlights divergent paths among major central banks, with the lower oil price acting as a moderating factor for inflation. No further details on the assumptions behind the oil price shift were provided.

The note underscores the ongoing interplay between commodity markets and monetary policy expectations in the FX space.