OECD says ECB and Fed will raise rates in 04

The Fed and the European Central Bank are likely to start nudging interest rates higher this year, but in historical terms rates will remain low, an OECD report says.

Forward interest rates and futures indicate that market participants expect US rates to rise some time in the second quarter, with eurozone rates rising somewhat later in the year, the OECD said in its Financial Market Trends report.

At the same time, markets see a high probability of another rise in UK rates in the near future,

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