US and euro interest rates to rise, says OECD

Interest rates in the world's leading economies look set to rise, the OECD warned in its bi-annual World Economic Outlook and predicted global growth of 4.75% this year.

The threat strong consumer demand and low unemployment pose to low inflation rates will prompt action from central banks in the US, the UK and the eurozone, the OECD said on Monday. The US, where weakening demand and stock market declines are braking economic growth, "modest" action may be needed by the Federal Reserve to

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