OECD urges ECB to cut key rate

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The European Central Bank (ECB) should cut its main refinancing rate to zero from its existing level of 0.25%, and keep it there for an "extended" period, according to the Organisation for Economic Co-operation and Development (OECD).

The OECD raised concerns over low inflation across its 34 members in its latest economic outlook, published today, and singled out the eurozone as the region most in need of additional easing.

Rintaro Tamaki, the organisation's acting chief economist, urged the ECB

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