OECD: Global economy on mend but recovery will be weak
- The OECD has forecasted a weak global economic recovery from the impacts of COVID-19 and Russia's war in Ukraine, with the US, Euro area, and China all experiencing sluggish recoveries.
- Persistent inflation and restrictive policies from major central banks pose a challenge for policymakers, who need to react to strong core price pressures while avoiding overly hurting growth.
- The OECD has urged central banks to remain restrictive and even raise rates further if needed until there are clear signs that underlying inflationary pressure is durably reduced, and recommended a targeted approach to fiscal support for households to limit the demand pressures that stoke inflation.
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Leaning Left2Leaning Right4Center2Last Updated11 months agoBias Distribution50% Right