Central banks ‘risk tipping UK and other developed countries into recession’

News Snapshot:

Continued tough action by central banks to tackle stubborn inflation risks tipping Britain and other developed countries into recession next year, the west’s leading economic thinktank has warned. The Organisation for Economic Co-operation and Development (OECD) said the chances of policymakers getting it wrong were “pretty high” and posed a threat to its central “soft landing” forecast for the global economy. The Paris-based OECD – which has 38 rich country members – said its best estimate is that the UK would suffer a second year of sluggish growth in 2024, and foresaw little prospect of a pre-election surge in activity....