The Organization for Economic Cooperation and Development cut its global growth forecast as expansions in China and other emerging markets slow. A further cut in interest rates is “merited” in Europe, it said.
The world economy will expand 3.4 percent this year instead of the 3.6 per cent predicted in November, the Paris-based organisation said in a semi-annual report today. China will grow 7.4 per cent, down from a previous projection of 8.2 per cent.
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