Wells Fargo analysts have boosted their 2026 global growth forecast to 3.0%, up from a previous 2.8% prediction. The revision reflects broad economic resilience and reduced trade policy uncertainty. The bank also raised its 2025 outlook to 3.1%, citing improved prospects for the U.S., China, and India.

The upgrade hinges on a shift toward more accommodative fiscal and monetary policy worldwide. Analysts Brendan McKenna and Azhin Abdulkarim noted China's economy is stabilizing after its housing crisis and weak consumer spending. However, they still expect China to be the primary driver of softer global GDP growth in 2026.

Central banks in the G10 have limited room for further rate cuts after easing in 2025. Only the Federal Reserve, Bank of England, and Norges Bank are seen cutting rates this year, with more reductions likely in emerging markets. This policy divergence could pressure the dollar and emerging market currencies.