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OECD recommends QE for euro area

by Reg Clodfelter

With the latest growth projections as low as 0.8 percent for 2014 and 1.1 percent for 2015 in the euro zone — far behind the United States’ 2.1 and 3.1 percent projections for 2014 and 2015, respectively — the Organization for Economic Cooperation & Development has recommended further monetary support for the euro area this week, including the use of quantitative easing.

“The euro area needs more vigorous monetary stimulus, while the U.S. and the U.K. are rightly winding down their unconventional monetary easing,” Rintaro Tamaki, deputy secretary-general of the OECD, said in a press conference.  

The OECD stated that, given the low demand and growth projections, recent actions by the European Central Bank, which include the

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