OECD advises Fed,ECB,BoJ to hold rates through '08

The OECD advised the central banks of the United States, Japan and the euro zone to leave interest rates on hold for more than a year in a report on Thursday which said more rate cuts by the U.S. Federal Reserve were not needed.

The Organisation for Economic Co-operation and Development forecast slower economic growth in the industrialised world and a sharp slowdown rather than recession in the United States in the short term due to a worsening housing slump.

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- Posted: 2007-12-06 09:43:34

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