Additional monetary policy tightening is required to lower inflation, says Paris-based organisation
The Paris-based Organisation for Economic Co-operation and Development (OECD) revised lower SA’s GDP and overall global growth forecasts as monthly indicators point to stagnating output and falling consumer confidence, reaching levels last seen over three decades ago.
The OECD downgraded SA’s GDP outlook for 2022 and 2023 to 1.7% and 1.1% respectively, and warned that major risks to the projections are on the downside...
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