United States and Europe must wait until the process of normalizing interest rates starting in 2012

Organization for Economic Cooperation and Development (OECD) 11 月 3 日 cut growth forecasts for 2011, Member States, and pointed out that in view of weak economic growth in the U.S. and the euro area, need to wait until the official launch of the second half of 2012 interest rate normalization process.

Reuters reports, OECD economic forecast for its members a detailed report will be released November 18. Part of the policy challenges Wednesday that the United States and the euro weak economic growth, as long as inflation expectations remain firmly under control, at least in the first half of 2012 before easing monetary policy should be maintained; and Japan face the problem of deflation, in the next year and the year after should not consider raising interest rates, while the quantitative easing should introduce more measures to stimulate the economy.

OECD member countries in 2011 will be from 2.8% GDP growth forecast revised down to 2% to 2.5%, which was revised on the United States the most, the U.S. economy is expected to increase from 3.2% down to 1.75% to 2.25%, but the OECD said the U.S. economy in 2012 with considerable momentum.

OECD pointed out that with the effectiveness of fiscal stimulus faded, slowing growth in trade and economic output, GDP is expected to Member States in 2010 increased by 2.5% to 3%. 2012 increased by 2.5% to 3%.

OECD also said that the recent unilateral intervention in foreign exchange markets and the resulting volatility will lead to protectionism, highlighted the global imbalances should be reached on how to reduce the need for public awareness.

Market economy by the 30 OECD countries, inter-governmental international economic organizations, designed to help member governments to achieve sustainable economic growth and employment, rising standards of living members, while maintaining financial stability. ■