OECD finds global economy on brink of inflation spike due to US-Israeli attacks on Iran with Australia not immune

Local economists are slashing growth prospects for this year and the next due to higher interest rates Get our breaking news email , free app or daily news podcast The world economy is on the brink of a major inflationary spike as soaring fuel prices threaten growth in European and Asian nations, the OECD has warned, and local economists are slashing…

Key takeaways

Quick scan — what you need to know:

• Local economists are slashing growth prospects for this year and the next due to higher interest rates Get our breaking news email , free app or daily news podcast The world economy is on the brink…
• The Organisation for Economic Cooperation and Development’s latest interim outlook said the US-Israel war on Iran will “test the resilience of the global economy”, and warned of the “significant…
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• Local economists are slashing growth prospects for this year and the next due to higher interest rates Get our breaking news email, free app or daily news podcast The world economy is on the brink…

Background

What led here, in plain terms:

• The Organisation for Economic Cooperation and Development’s latest interim outlook said the US-Israel war on Iran will “test the resilience of the global economy”, and warned of the “significant…
• Continue reading...

Why it matters

Why readers and decision-makers should care:

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• Local economists are slashing growth prospects for this year and the next due to higher interest rates Get our breaking news email, free app or daily news podcast The world economy is on the brink…
• The Organisation for Economic Cooperation and Development’s latest interim outlook said the US-Israel war on Iran will “test the resilience of the global economy”, and warned of the “significant…