Posted 11/29/2023, 2:49:00 PM
Central Banks' Inflation Fight Risks Global Recession in 2023, Says OECD Forecast
- Central banks risk causing recession in 2023 by tackling persistent inflation with aggressive policy
- OECD predicts sluggish UK growth in 2023-2024, with 0.5% and 0.7% GDP growth
- Expects Bank of England interest rates to remain unchanged at 5.25% throughout 2024
- Germany forecast as worst performing developed economy in 2023, with 0.1% contraction
- Global economy faces threats from inflation, slowing growth, tightening financial conditions, weak trade and confidence