OECD cuts growth forecasts and urges ECB easing

The OECD has cut its growth forecasts as it warned of the risk of a "major" global recession and urged the European Central Bank and the People's Bank of China to ease monetary policy.

"After five years of crisis, the global economy is weakening again," chief economist Pier Carlo Padoan said yesterday in the Organisation for Economic Co-operation and Development's semi-annual Economic Outlook. "The risk of a major contraction cannot be ruled out."

via Business feed http://www.scmp.com/business/economy/article/1092555/oecd-cuts-growth-forecasts-and-urges-ecb-easing