Rising Property Prices Put Australia Economy at Risk
09 March, 2017, 00:32
The Organisation for Economic Co-operation and Development has adjusted its forecast for the UK's economy ahead of tomorrow's budget.
The OECD on Tuesday increased its United Kingdom growth forecast for 2017 to 1.6%, up from a previous estimate of 1.2%, presented in November a year ago.
Global economic growth is expected to pick up modestly next year to around 3.6 % from a projected 3.3% in 2017 but a risk of rising protectionism, financial vulnerabilities, potential volatility from divergent interest rate paths and disconnects between market valuations and real activity hang over the outlook, according to the OECD.
The OECD is particularly concerned with political uncertainty in Europe amid rising support for anti-establishment parties.
'Falling trust in national governments and lower confidence by voters in the political systems of many countries can make it more hard for governments to pursue and sustain the policy agenda required to achieve strong and inclusive growth, ' the OECD said.
"Policy choices, including on the composition of fiscal spending, taxation, regulation and trade, are likely to have a significant impact on growth outcomes", the group said.
Only last week, the Trump administration made clear it did not feel bound by World Trade Organisation rulings, saying it "will aggressively defend American sovereignty over matters of trade policy".
Trump has consistently said his priority is to protect American jobs and has promised to renegotiate the North American Free Trade Agreement with Canada and Mexico.
Trump also complained that the U.S. gave up too much in the Trans-Pacific Partnership, an Asia-Pacific regional deal he scrapped immediately after taking office.
In Japan, fiscal easing was seen underpinning growth of 1.2 per cent though the rate was seen falling back to 0.8 per cent in 2018. It first gave the figure in November.
With lower interest rates, many countries can afford to take on new debt to finance initiatives boosting growth and employment, especially if those are coupled with structural reform, it argued.
But several obstacles could still get in the way of the global recovery.
The OECD said that with only a modest recovery in view in most countries, financial markets were becoming disconnected from economic reality as consumer spending and business investment remained weak. One remedy would be for governments to use any leeway in public finances to help struggling demand.
"The economic nationalism is a much bigger wildcard because we don't know how the language translates into policy at this point", Mann told Reuters as the OECD updated its outlook for major economies.
Louis , Missouri. after allegedly making eight threats in a freakish campaign to harass and frame an ex-girlfriend. Meanwhile, the ADL , the target of past calls, said on Twitter that it was once again fielding "multiple" threats.
With the aggregate level, Pulisic went on and scored his first career Champions League goal with an absolutely fantastic finish. The Portuguese champions were well beaten in the end and, in this form, few teams will want to face Dortmund.
The current share price indicate that stock is -16.14% away from its one year high and is moving 506.51% ahead of its 52-week low. Wall Street is only getting more bullish on the stock, with 11 of analysts who cover AMD having a buy-equivalent rating.
One Iraqi official told Reuters that al-Baghdadi may be hiding north of the Euphrates river amongst Sunni Arab tribes. Tens of thousands of civilians are believed to have fled Mosul in the last week alone.
Voted one of the top 100 dive sites in the World , Gozo's Inland Sea to the Azure Window has been shattered. Baldacchino, a local environment management expert after seeing photos taken of the clean-up process.
Spokesman Mario Cruz told the Emisoras Unidas radio station that firefighters were still extinguishing parts of Wednesday's blaze. The fire started with burning mattresses in one of the bedrooms, the Guatemala newspaper Prensa Libre reported.
Apple had a major stake in ARM when it was spun-out of Acorn Computers in the 1990s until the SoftBank acquisition previous year . It is understood that the transfer of Arm shares will come on top of the $25 billion that SoftBank plans to contribute to the...
Putrajaya has previously rebuffed North Korea's request for Jong-nam's body, insisting that only his next-of-kin can claim it. Channel NewsAsia also contacted Inspector-General of Police Tan Sri Khalid Abu Bakar, who said he has not heard of the group.