Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
White House: Trump called on al-Sharaa to "tell all foreign terrorists to leave Syria, deport Palestinian terrorists, help US prevent resurgence of ISIS, assume responsibility for ISIS detention centers in northeast Syria."
White House says Trump called on Al-Sharaa to join normalization accords with "Israel".
Israeli media, citing officials: Despite the Israeli plea, Donald Trump announced lifting sanctions on Syria
Anadolu: Turkish President Erdogan, US President Trump, Saudi Arabian Crown Prince Mohammed Bin Salman, and Syria's Sharaa hold online meeting.
YAF spokesperson Yahya Saree: Missile on Lod [Ben Gurion] airport is third in less than 24 hours, it achieved its target successfully.
YAF spokesperson: YAF's Missile Force targeted Ben Gurion airport with hypersonic missile.
Al Mayadeen's correspondent: 60 martyrs in Israeli strikes on six homes in Gaza since this morning.
IOF says missile launched from Yemen toward "Israel", air defense systems currently working to intercept it.
Macron says Israeli PM's measures on Gaza 'unacceptable' and 'shameful'
Yemeni Armed Forces: Companies that have not announced the suspension of their flights should follow in the footsteps of those who did, suspending flights to airports in occupied Palestine

Central banks risk sending the developed world into recession: OECD

  • By Al Mayadeen English
  • Source: News websites
  • 2 Dec 2023 17:07
  • 1 Shares
3 Min Read

New research indicates that harsh anti-inflation tactics are harming economic growth.

  • x
  • Central banks risk sending the developed world into recession: OECD
    Federal Reserve Chairman Jerome Powell appears on several television screens on the floor of the New York Stock Exchange on November 1, 2023. (AP)

The Organization for Economic Cooperation and Development (OECD) has warned that central bankers' continuing battle to contain excessive inflation might send wealthy countries into recession next year.

In its global forecast, released earlier this week, fiscal tightening since early 2022 is hurting domestic demand progress, while interest rates in many nations continue to increase.

Although the OECD predicts a "soft landing" for the world's economy, it warns that the risks to that forecast are "pretty high" due to officials' actions. Clare Lombardelli, the OECD's chief economist, explained that it was "unclear how much of the past tightening has fed through and how much is yet to come."

According to the prediction, the OECD's 38 member countries would increase by 1.7% in 2023 and 1.4% in 2024. The global economy is expected to grow by 2.9% in 2023 and 3% in 2024, supported by non-member growth in India and China.

The report indicates that Germany will be the worst-performing major economy this year, shrinking by 0.1% before recovering to grow by 0.6% in 2024.

Related News

Spain PM visits China, Vietnam amid US tariff crisis

China refuses subjugation, will continue defending interests: Official

The Eurozone as a whole is forecast to grow by 0.6% this year, compared to 2.4% in the United States.

The OECD also warned that the current war on Gaza could cause regional dysfunction, emphasizing that “this could result in significant disruptions to energy markets and major trade routes, and additional risk repricing in financial markets, that would slow growth and add to inflation.”

Fed ready for rate increases, cautions against early end to tightening

Chairman Jerome Powell stated on Friday that the Federal Reserve remains prepared to increase interest rates if necessary.

Despite implementing 11 rate hikes over the past two years, inflation has not reached the desired levels, leading Powell to caution against prematurely declaring the end of monetary tightening by the central bank.

"Over the six months ending in October, core inflation ran at an annual rate of 2.5 percent, and while the lower inflation readings of the past few months are welcome, that progress must continue if we are to reach our 2 percent objective," Powell said in a live-streamed speech on monetary policy.

"It would be premature to conclude with confidence that we have achieved a sufficiently restrictive stance or to speculate on when policy might ease. We are prepared to tighten policy further if it becomes appropriate to do so."

A closely monitored inflation indicator by the Fed revealed a 3% annual growth rate for October. While this approaches the central bank's 2% target, it represents a slight deceleration from September's 3.4% expansion, according to data released on Thursday.

  • Central Bank
  • OECD
  • inflation
  • Global economy

Most Read

Trump cut off contact with Netanyahu, senior Israeli official says

Trump cut off contact with Netanyahu: Israeli media

  • US & Canada
  • 9 May 2025
Saree

Yemeni Armed Forces target key Israeli sites, USS Truman

  • MENA
  • 7 May 2025
A boy draped in a Palestinian flag carries a mock rocket during a weekly anti-US and anti-Israeli rally in Sanaa, Yemen, Friday, May 9, 2025 (AP)

Yemen announces hypersonic missile strike on Ben Gurion Airport

  • Politics
  • 9 May 2025
President Donald Trump, left, greets Israeli Prime Minister Benjamin Netanyahu at the White House, Monday, April 7, 2025, in Washington (AP)

US pressures 'Israel' for Gaza deal; Witkoff's Israeli rebuke leaked

  • US & Canada
  • 9 May 2025

Coverage

All
Gaza prevails against genocide

Read Next

All
Labour Party leader Keir Starmer with his wife Victoria make their way through supporters as they arrive at the count for the Holborn and St Pancras Parliamentary constituency where the Starmer is standing for election, in London, Friday, July 5, 2024 (AP)
Politics

UK Labour MPs urge government to recognize Palestine

Israeli exodus: 60,000 Israelis fled last year without return
Politics

Israeli exodus: 60,000 settlers fled last year on one-way tickets

Hollywood actors condemn Gaza violence days before Cannes Festival
Arts and Culture

350+ Hollywood actors condemn Gaza genocide ahead of Cannes Festival

Likud minister calls Trump as ‘unpredictable,’ unreliable
Palestine

Likud minister rebukes Trump, calls him 'unpredictable', unreliable

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS