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The world economy

Published online by Cambridge University Press:  26 March 2020

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Abstract

  • • The most likely outlook for the world economy in 1999 is a marked slowdown, with growth slackening in the OECD from 2.4 to 1.8 per cent.

  • • But there is also a high probability that further shocks to financial markets could induce a full blown recession in the US and a substantial reduction in European growth.

  • • Sharp and swift cuts in interest rates are needed to avert this danger.

  • • The ECB could cut rates by half a percentage point without compromising its inflation goals.

Type
Articles
Information
National Institute Economic Review , Volume 166 , October 1998 , pp. 3
Copyright
Copyright © 1998 National Institute of Economic and Social Research

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