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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOECD chief economist: Still see a very strong, resilient economy in the U.S.OECD Chief Economist Alvaro Pereira says that whilst there is a slight slowdown in the U.S. economy, it still remains strong and resilient with very good labor market indicators. Pereira also said lower inflation stateside gives margins to further rate cuts from the Federal Reserve in the coming months.
Persons: Alvaro Pereira, Pereira Organizations: OECD, Federal Reserve Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOECD’s Pereira: Seeing some recovery in many parts of the world“We start seeing some recovery in many parts of the world,” Alvaro Pereira, director of the OECD’s policy studies branch, told CNBC’s Silvia Amaro Thursday.
Persons: OECD’s Pereira, ” Alvaro Pereira, CNBC’s Silvia Amaro Thursday
The U.K.'s "sluggish" growth prospects have put it on course to be the worst-performing economy of all advanced nations next year, according to new forecasts from the Organisation for Economic Cooperation and Development. The downbeat prediction comes as the global economy shows signs of recovery, with growth forecast to remain steady at 3.1% in 2024, before rising modestly to 3.2% in 2025. "We start seeing some recovery in many parts of the world," Alvaro Pereira, director of the OECD's policy studies branch, told CNBC's Silvia Amaro Thursday. Growth among advanced nations next year is set to be led by North America, which Pereira said follows "strong growth" forecasts of 2.6% in the U.S. in 2024. Growth in Europe, meanwhile, is expected to pick up next year after a sluggish 2024.
Persons: Alvaro Pereira, CNBC's Silvia Amaro Thursday, Pereira Organizations: Organisation for Economic Cooperation, Development, North Locations: Germany, Paris, Canada, France, Japan, U.S, North America, Europe
ECB Must Narrow Interest-Rate Gap With Fed, OECD Says
  + stars: | 2022-11-22 | by ( Paul Hannon | ) www.wsj.com   time to read: 1 min
Alvaro Pereira, the OECD’s acting chief economist, said that ‘fighting inflation has to be our top policy priority right now.’The European Central Bank will have to raise its key interest rate much further if it is to bring down persistently high inflation, the Organization for Economic Cooperation and Development warned Tuesday. Inflation rates have surged since Russia’s invasion of Ukraine pushed energy and food prices sharply higher. While there have been some recent signs that these rates are at or close to their peaks, the Paris-based research group said inflation is unlikely to fall back quickly to the 2% level targeted by many central banks.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Light at the end of the tunnel' on inflation, says OECD's chief economistAlvaro Pereira told CNBC the OECD expects inflation to peak in many countries in the middle of 2023, but monetary and fiscal policy needed to remain "hand in hand."
Aaron Chown - Pa Images | Pa Images | Getty ImagesLONDON — U.K. growth has lagged the world's biggest economies since the Covid-19 pandemic and is substantially below the OECD average, according to a new report from the influential Paris-based group. In the G-7 nations — which includes Canada, France, Germany, Italy, Japan, the U.S. and U.K. — GDP has grown by a cumulative 2.5%, with only the U.K. recording a decline. Former Bank of England policymaker Michael Saunders this week told CNBC Hunt's plan had a "massive" hole where an economic growth strategy should be. 'Light at the end of the tunnel'Tuesday also saw the release of the OECD's global Economic Outlook report. Pereira told CNBC: "We are facing a very challenging environment.
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