Mary Wilson
Well-known member
10 HOURS AGO
Chris Giles in London
The Omicron coronavirus variant threatens to intensify imbalances that are slowing growth and raising costs, the OECD said on Wednesday as it significantly increased its inflation forecasts from three months ago.
The new variant, which was identified last week, could delay the world economy’s return to normality, the Paris-based international organisation of largely rich country members warned.
Monetary policymakers should be “cautious”, the OECD added, saying that the most urgent policy requirement was to accelerate deployment of Covid vaccines globally.
The recommendations came alongside its twice yearly economic outlook, which left global growth forecasts similar to those three months ago but significantly raised expected inflation.
Across the G20, the OECD raised its inflation forecast for 2022 from 3.9 per cent in its September predictions to 4.4 per cent now. The largest increases were in the US and UK, where inflation forecasts for next year rose in both countries from 3.1 per cent to 4.4 per cent.
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https://www.ft.com/content/9e5dfa00-a051-485a-a8c2-fe6c3aeb11f5
Chris Giles in London
The Omicron coronavirus variant threatens to intensify imbalances that are slowing growth and raising costs, the OECD said on Wednesday as it significantly increased its inflation forecasts from three months ago.
The new variant, which was identified last week, could delay the world economy’s return to normality, the Paris-based international organisation of largely rich country members warned.
Monetary policymakers should be “cautious”, the OECD added, saying that the most urgent policy requirement was to accelerate deployment of Covid vaccines globally.
The recommendations came alongside its twice yearly economic outlook, which left global growth forecasts similar to those three months ago but significantly raised expected inflation.
Across the G20, the OECD raised its inflation forecast for 2022 from 3.9 per cent in its September predictions to 4.4 per cent now. The largest increases were in the US and UK, where inflation forecasts for next year rose in both countries from 3.1 per cent to 4.4 per cent.
...
https://www.ft.com/content/9e5dfa00-a051-485a-a8c2-fe6c3aeb11f5
