Fed should not wait to hike rates – OECD

FXStreet (Mumbai) - The Organization for Economic Cooperation and Development (OECD) is the lone top tier organization in the world at the moment that is urging Fed to hike rates. The IMF and World Bank have urged Fed to delay rate hike.

OECD chief economist said Fed should not wait to hike rates and that the pace of future hikes is more important than timing. The OECD also expressed concerns over Asian economies.

Key Points

Lowers 2015 global GDP outlook to 3% from 3.1%
previously in June

Lowers China's 2015 forecast to 6.7% vs 6.8% prev

Lowers Japan 2015 forecast to 0.6% vs 0.7% prev

Raises US 2015 GDP forecast to 2.4% vs 2.0% prev

Raises Eurozone 2015 forecast to 1.6% vs 1.5%