OECD warns interest rates may need to stay high to combat inflation

The OECD is warning interest rates may need to stay higher to combat inflation. This follows financial markets pushing out expectations for rate cuts to May and June of next year. The Paris-based organisation states the global economy is starting to brighten. The OECD also claimed Australia’s economy is proving more resilient than expected. The findings are in contrast to an announcement from Treasurer Jim Chalmers last week, who warned of a “fraught and fragile” global economic outlook.