NAB cuts global growth forecast on Iran war risks
National Australia Bank has cut its global growth forecasts due to the Iran war, warning of higher energy prices and increased downside risks for the world economy. The bank lowered its 2026 global growth forecast to 3.2 per cent from 3.4 per cent, citing the war's impact on global energy supply.
National Australia Bank cut its global growth forecasts due to the Iran war. The bank lowered its 2026 forecast to 3.2 per cent from 3.4 per cent. The war is lifting energy prices and delaying rate cuts. A quarter of the world's seaborne oil trade passes through the Strait of Hormuz. Brent crude has averaged around US$92 a barrel since the war began. The bank warned of recession risks if oil prices stay high. Net energy importers like Japan and India face the biggest headwinds.
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