OECD's Gurria hinting that central banks are running low on options
- You have to move towards structural reforms
- We've run out of easy fixes for economies
- OECD forecasts 3% global growth
- Conditions are tough but not forecasting recession
- Trade is very sluggish
- Investment is running at half the speed it should be
- We should be worried about deflation
- We've been focusing on supply side of inflation, have to look at demand side also
- Oil hasn't found stability, we're still going to see volatility
- UK should stay firmly in Europe, is much strong as part of Europe
Back in Feb they had the scythe out for global growth cutting it to 3.0% from 3.3%
