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OECD chief credits loose monetary policy for averting catastrophe

The OECD credits loose monetary policy for averting a global economic collapseThe head of the OECD on Wednesday credited a wave of loose monetary policy for preventing a global economic collapse, but warned it was now up to governments to lift growth and safeguard their economies. Angel Gurria, secretary-general of the Organisation for Economic Co-operation and Development, made the comments in Tokyo where the 34-member club of rich nations was presenting its latest report on the Japanese economy. “But the problem is now structural changes (that) are not in the hands of central banks. Education, innovation, more competition, better regulations…These have nothing to do with central banks,” he added.

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