Central banks risk plunging developed world into recession

Aggressive anti-inflation policies are hurting economic growth, a report warns Central bankers’ continued fight to bring rampant inflation under control could plunge developed countries into recession next year, the Organization for Economic Co-operation and Development (OECD) has warned. According to its global outlook, issued earlier this week, the tightening of monetary policy since early 2022 is slowing domestic demand growth, while interest rates continue to rise in many economies. Although the OECD forecasts a “soft landing” for the global economy, it warned that the risks to that view are “pretty high” due

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Last updated : 02 Dec 2023 clock 02:24 PM

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