OECD sings praises of central banks

Jean-Philippe Cotis, the chief economist of the OECD, had warm words for central banks Wednesday when he presented the organisation's interim assessment of the global economy in between the spring and autumn editions of the Economic Outlook.

He commended the central banks for their "swift and forceful action" during recent bouts of financial volatility, which he said had helped to contain the effects of turbulence. It was fortunate, he said, that the repricing of risk was taking place at a ti

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