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OECD warns of sharp slowdown in G7 countries
PARIS : A new recession in some rich countries cannot be ruled out and the eurozone crisis could deepen, the OECD warned
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PARIS: A new recession in some rich countries cannot be ruled out and the eurozone crisis could deepen, the OECD warned on Thursday urging most central banks not to raise interest rates.
The Organisation for Economic Cooperation and Development revised sharply down its growth forecasts for the rest of the year for Group of Seven (G7) rich industrialised countries and expected at least one quarter of contraction in Germany and Italy.
Copyright AFP (Agence France-Presse), 2011
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