-- The world’s economic outlook is perking up as growth proves more resilient and inflation is set to cool faster than previously expected in many countries, the OECD said.The Ozempic Effect: How a Weight Loss Wonder Drug Gobbled Up an Entire Economy
Inflation will be softer than the OECD forecast three months ago, with the exception of the US, where it now expects prices to rise 2.5% this year instead of 2.2%. Still, it said US policy makers should be able to reduce interest rates in the second half of the year. In the recovery, the OECD said divergence between strong growth in the US and a more sluggish Europe will persist in the near term, creating a “mixed macroeconomic landscape.” That will translate into differing paces of interest rate cuts, with the European Central Bank set to begin easing before the Fed.
For governments, it said the improving economic backdrop provides the opportunity to tackle bloated debt burdens that risk swelling further as higher borrowing costs feed through. It also cautioned countries will face growing spending demands from aging populations, climate change and needs to bolster defense.
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Source: Financial Digest (financialdigest.net)
OECD Sluggish Growth Conflicts In The Middle East Inflation
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