Central Banks
OECD Warns Global Economy Risks Losing Momentum
- OECD sees 2.7% global GDP growth in 2024 versus 2.9% in 2023
- Monetary policy must stay tight for now, Paris economists say
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The world’s advanced economies are heading into a deepening slowdown as markedly higher interest rates take a hefty toll on activity that could still become more acute, the OECD warned.
Growth is losing momentum in many countries and won’t edge up until 2025, when real incomes recover from the inflation shock and central banks will have begun cutting borrowing costs, the Paris-based organization said.