OECD calls for Fed and BoE to hike rates

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The Organisation for Economic Cooperation and Development (OECD) on Wednesday said the Federal Reserve and the Bank of England should follow the European Central Bank's (ECB) footsteps and begin the process of raising real interest rates to a positive level.

In its May Economic Outlook report, the OECD said sizable and increasingly uncertain "slack" in most OECD economies and low underlying inflation implied that policy rates should remain accommodative through the projection period. However, it

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