OECD Sees Global Economy Jolted by War in Ukraine

The video discusses the need for central banks to hike interest rates to combat inflation while balancing fiscal policy to mitigate energy costs. It forecasts economic slowdowns in the US, euro area, and China, emphasizing the importance of reducing inflation. The video highlights the energy challenges in Europe, predicting potential recessions and increased inflation if disruptions occur. It also addresses concerns about UK fiscal policy and stresses the need for global coordination between monetary and fiscal policies.

What are the implications of continuing to hike interest rates in the context of inflationary pressures?

How does supportive fiscal policy help cushion the impact of higher energy costs?

What is the expected economic growth for the United States and the euro area next year according to the forecast?

What is the relationship between monetary policy and fiscal policy as discussed in the text?

What are the potential consequences of energy price disruptions on economic growth and inflation?

How does the current inflation situation in the UK compare to that of the euro area and the United States?

What specific measures are suggested to support vulnerable households in the context of rising energy prices?