The OECD has warned central banks against cutting interest rates too fast, flagging the threat posed by “persistent” inflation in the price of services.
The Paris-based organisation said in its latest global outlook that the world economy was showing “remarkable resilience”, as it welcomed a continued retreat in overall price pressures following the severest bout of inflation for a generation.
Its growth forecast for the US, the world’s largest economy, was sharply upgraded to 2.4 per cent next year, compared with 1.6 per cent in its September outlook, driven by solid consumption and underpinned by “brisk” wage growth.
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