Complacency by policymakers and a “crisis of trust” in politicians, banks and multinationals are the biggest risks to the global economy this year, the head of the Organisation for Economic Co-operation and Development (OECD) told CNBC.
The warning from OECD Secretary-General Angel Gurria came as the 34-country organization released its annual economic outlook, trimming expectations for global growth for this year and predicting “moderate” economic and trade expansion.
It also forecast a slowdown in the Chinese economy, warned of only modest declines in unemployment and stressed that tighter financial and credit conditions would weigh on emerging economies.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015