Central banks ‘risk tipping UK and other developed countries into recession’

In its half-yearly economic outlook, the OECD says UK growth will remain ‘stable but low’, with national output rising by 0.5% in 2023 and 0.7% in 2024. Photograph: Toby Melville/Reuters

Continued tough action by central banks to tackle stubborn inflation risks tipping Britain and other developed countries into recession next year, the west’s leading economic thinktank has warned.

The Organisation for Economic Co-operation and Development (OECD) said the chances of policymakers getting it wrong were “pretty high” and posed a threat to its central “soft landing” forecast for the global economy.