"The world economy has shown real resilience in the context of strong inflation in the last two years and the necessary tightening of monetary policies": this is what the general secretary of the OECD, Mathias Cormann, stated on the day of the presentation in Paris of the OECD economic outlook.
"Growth - adds Corman - has resisted and we expect inflation to return to the level of the objectives set by central banks by the end of 2025 in most of the G20 economies".
For Cormann, however, "central banks must continue to conduct a prudent monetary policy, even if they could begin to reduce rates this year, provided that the decline in inflation continues".
The OECD head also invites states to "redouble their efforts to contain the increase in spending" and to "work together to revive trade, improve the resilience of supply chains and address common problems, in particular climate change".
For the OECD, current tensions, starting with the situation in the Middle East, remain a "major source of uncertainty".
The "threats weighing on maritime transport in the Red Sea - it is underlined in the Economic Outlook - have increased costs and extended supplier delivery times. In the event of escalation - warns the body - these factors could result in new tensions on the price of goods and endanger the expected recovery".
For her part, the chief economist of the OECD, Clare Lombardelli, said that the drop in inflation "is good news. Inflation - she reiterated - is falling in most advanced economies.
Obviously the game is not yet won but the estimates are encouraging even if the road is not without obstacles."
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