- — AI’s Promise for the Global Economy
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at 9/8/24 3:00pmThe postpandemic global economy is beset by slower growth, the most persistent inflation in decades, limited progress on sustainability, and high borrowing costs weighing on investment, including the massive investments needed for the energy transition. Perhaps the strongest headwind, though, is sluggish productivity growth since the global financial crisis. AI is our best chance at ...- — AI’s Promise for the Global Economy
- at 9/8/24 3:00pmThe postpandemic global economy is beset by slower growth, the most persistent inflation in decades, limited progress on sustainability, and high borrowing costs weighing on investment, including the massive investments needed for the energy transition. Perhaps the strongest headwind, though, is sluggish productivity growth since the global financial crisis. AI is our best chance at ...
- — OECD headline inflation falls to 5.4% in July 2024, despite rising in about half of OECD countries
- at 9/6/24 11:00amAlthough year-on-year inflation in the OECD a\s measured by the Consumer Price Index (CPI) fell to 5.4% in July 2024 from 5.6% in June, developments varied widely across countries. Inflation increased in 17 of 38 OECD countries, declined in 11, and was stable or broadly stable in 10. It declined by nearly 10 percentage points ...
- — G20 merchandise trade shows mixed performance in Q2 2024, amid easing growth in services
- at 8/26/24 11:00amG20 merchandise export growth flattened in Q2 2024, as measured in current US dollars, following a rise in the previous quarter (Figure 1 and 2). This slowdown was largely driven by a decrease in exports from the European Union. G20 merchandise imports grew by 1.2% after seven consecutive quarters of negative growth, mainly driven by ...
- — IMF sees scope for Bank of Japan to keep raising rates
- at 8/26/24 4:00amThe Bank of Japan can raise interest rates gradually as heightening inflation expectations leave further scope to normalise its ultra-loose monetary policy, the International Monetary Fund said on Friday. The speed of further rate increases will be very data-dependent, as the BOJ will look at the pace at which inflation, wage growth and inflation expectations ...
- — IMF’s Gourinchas says right for US to cut rates though inflation risk not gone
- at 8/26/24 4:00amThe imminent rate cuts planned by the U.S. Federal Reserve are in line with International Monetary Fund advice that has put a premium on ensuring inflation was controlled but now sees risks shifting toward the labor market, IMF economic counsellor Pierre-Olivier Gourinchas said on Friday. What was telegraphed by (Fed chair Jerome) Powell today is ...
- — OECD headline inflation falls to 5.6% in June 2024
- at 8/7/24 11:00amYear-on-year inflation in the OECD as measured by the Consumer Price Index (CPI) declined in June 2024, to 5.6% from 5.9% in May (Figures 1 and 2). This is the lowest level since October 2021, although a similar rate was already approached several times since the beginning of 2024, at 5.7%. Headline inflation declined in ...
- — China’s economy remains resilient, on track for 2024 target: IMF
- at 8/5/24 3:00pmChinas economy has demonstrated notable resilience, with its GDP projected to grow by 5% in 2024 and 4.5% in 2025, according to the final report for Chinas 2024 Article IV Consultation released by the International Monetary Fund (IMF) on Friday. Chinas 2024 GDP growth is projected to be broadly in line with the countrys target, ...
- — OECD launches pilot to monitor application of G7 code of conduct on advanced AI development
- at 7/23/24 11:00amThe Organisation for Economic Co-operation and Development (OECD) announced a pilot phase to monitor the application of the Hiroshima Process International Code of Conduct for Organisations Developing Advanced AI Systems. This initiative will test a reporting framework intended to gather information about how organisations developing advanced artificial intelligence (AI) systems align with the Actions of ...
- — IMF says U.S. should raise taxes, wait until late 2024 to cut rates
- at 7/18/24 11:00amThe International Monetary Fund on Thursday said the U.S. Federal Reserve should not cut interest rates until late 2024 and the government needs to raise taxes to slow the growing federal debt including on households earning less than President Joe Bidens $400,000-a-year threshold. The prescriptions came in the detailed staff report from the IMFs ...
- — IMF upgrades UK growth forecast in another boost to new Labour government
- at 7/17/24 3:00pmThe International Monetary Fund on Tuesday lifted its 2024 growth outlook for the U.K. to 0.7% from 0.5%, providing a further boost to the country’s new government. Looking ahead, the Washington, D.C.-based IMF reiterated its forecast for 1.5% U.K. growth in 2025 in the July update of its World Economic Outlook. The upgrades come after ...
- — No rush for US Fed to cut rates, IMF’s chief economist says
- at 7/17/24 11:00amCooling inflation data is allowing the Federal Reserve to begin a very reasonable shift toward easing rates, but a still-strong U.S. labor market means that theres no rush to make decisions, International Monetary Fund chief economist Pierre-Olivier Gourinchas told Reuters. Gourinchas said in an interview accompanying the release of new IMF growth forecasts on Tuesday ...
- — IMF sees steady global growth, warns of slowing disinflation momentum
- at 7/16/24 3:00pmThe global economy is set for modest growth over the next two years amid cooling activity in the U.S., a bottoming-out in Europe and stronger consumption and exports for China, but risks to the path abound, the International Monetary Fund said on Tuesday. The IMF warned in an update to its World Economic Outlook(WEO) that ...
- — IMF says emerging market capital inflows recover to 2018 levels
- at 7/12/24 3:00pmThe International Monetary Fund on Friday said that gross capital inflows into emerging markets excluding China last year rose to $110 billion or 0.6% of their economic output, the highest level since 2018. The findings, part of the IMFs External Sector Report on currency, capital flows and financial imbalances, show some resilience among emerging markets ...
- — OECD employment at record high while the climate transition expected to lead to significant shifts in labour markets
- at 7/12/24 4:00amOECD labour markets remain tight, with total employment higher than before the COVID-19 pandemic and the OECD unemployment rate close to its lowest level since at least 2001. Jobs growth has slowed, however, and real wages have recovered to pre-2020 levels in only 19 of the 35 OECD countries with available data, despite some catching ...
- — New OECD data highlight stabilisation in statutory corporate tax rates worldwide
- at 7/11/24 11:00amStatutory corporate tax rates are stabilising worldwide after a lengthy period of falling rates, according to new OECD data released today. The 2024 edition of OECD Corporate Tax Statistics shows that average statutory corporate income tax (CIT) rates have remained steady at 21.1% over the past three years. This follows a two-decade period that saw ...
- — Ukraine receives $2.2 bln from IMF, prime minister says
- at 7/3/24 3:00pmUkraine received a $2.2 billion disbursement from the International Monetary Fund on Wednesday, according to Prime Minister Denys Shmyhal. The transferred amount will help finance critical budget expenditures, social benefits, and salaries of doctors and teachers, Shmyhal said. The IMF approved this disbursement to Ukraine after a loan review last month. Source: Reuters (Reporting by ...
- — IMF approves $2.2 bln disbursement to Ukraine after loan review
- at 6/30/24 3:00pmThe International Monetary Fund on Friday said its executive board approved a $2.2 billion disbursement to Ukraine for budget support and urged external donors to keep up support for the war-torn country amid a deteriorating economic outlook. The IMFs approval of the fourth review of the four-year, Extended Fund Facility brings total disbursements to $7.6 ...
- — Action needed to address gaps in financial literacy among students
- at 6/28/24 4:00amMore than two-thirds of students regularly use financial products and services, but levels of financial literacy remain too low to ensure they can all avoid financial risks while benefiting from available opportunities, according to a new OECD report. Governments should seek to boost young people’s financial literacy, enabling them to better understand key financial concepts, ...
- — OECD increases engagement with Southeast Asia further – Opens accession discussions with Thailand
- at 6/19/24 11:00amThe Council of the OECD has decided to open accession discussions with Thailand, making it the second country from Southeast Asia to become an OECD accession candidate this year. The decision builds on many years of increasing co-operation and engagement with Thailand, including through two phases of a dedicated OECD-Thailand Country Programme since 2018, supporting ...
- — Students in high-performing education systems record top scores in new international creative thinking assessment
- at 6/18/24 3:00pmSingapore, Korea, Canada*, Australia*, New Zealand*, Estonia and Finland were the highest-performing education systems in the first-ever creative thinking assessment under the OECD’s Programme for International Student Assessment (PISA). Results of the global assessment, administrated in 2022 to better understand skills of 15-year-old students in 64 countries and economies worldwide, show that students in high-performing ...
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