Australian growth forecasts slashed as global economy faces inflation spike
The OECD says the Middle East war will test the resilience of global economy Australia will suffer from higher rates and inflation Get our breaking news email , free app or daily news podcast The world economy is on the brink of a major inflationary spike as soaring fuel prices threaten growth in European and Asian nations, the OECD has warned, and local economists are slashing Australia’s growth prospects for this year and the next amid the ongoing US-Israel attack on Iran. The Organisation for
OECD says the Middle East war will test the world’s resilience with Australia expected to suffer from higher rates and inflation
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The world economy is on the brink of a major inflationary spike as soaring fuel prices threaten growth in European and Asian nations, the OECD has warned, and local economists are slashing Australia’s growth prospects for this year and the next amid the ongoing US-Israel attack on Iran.
The Organisation for Economic Cooperation and Development’s latest interim outlook said the US-Israel war on Iran will “test the resilience of the global economy” and warned of the “significant downside risk” to their forecasts should the oil supply disruptions prove more persistent and push energy prices even higher.
Coverage from 2 sources
- Australian growth forecasts slashed as global economy faces inflation spikeGuardian - World · Patrick Commins Economics editor · Mar 26, 2026, 10:07 AM
- OECD finds global economy on brink of inflation spike due to US-Israeli attacks on Iran with Australia not immuneGuardian - World · Patrick Commins Economics editor · Mar 26, 2026, 10:00 AM
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