- Lowers World GDP to 3.4% from 4.2% in May
- Cuts US to 2.0% from 2.6%
- Trims OECD area to 1.4% from 2.2%
- Cuts Eurozone to -0.1% from +0.9%
- Cuts Germany to 0.6% from 2.0%
- Cuts France to 0.3% from 1.3%
- Cuts China to 8.5% from 9.3%
- Cuts Japan to 0.7% from 1.5%
OECD sees Eurozone crisis still the biggest threat to world economic outlook, and calls on ECB to cuts rates by 0.25%.
BOJ should increase QE until inflation firms to +1%, Japan’s economy’s strong enough to implement a sales tax hike in 2013. Spending cuts, revenue increases are vital to sustain confidence in Japan’s public finances
(Reuters)
