In its latest economic outlook published on Wednesday, the Organisation for Economic Co-operation and Development (OECD) said it sees the world GDP growing by 5.6% (prev. 5.7%) in 2021, 4.5% in 2022, 3.2% in 2023, per Reuters.

Additional takeaways

"OECD sees US growth of 5.6% in 2021, 3.7% in 2022, 2.4% in 2023 (vs 6.0% in 2021, 3.9% in 2022 previously)."

"OECD sees Chinese growth of 8.1% in 2021, 5.1% in 2021 and 2022 (vs 8.5% in 2021 and 5.8% in 2022 previously)."

"OECD sees euro area growth of 5.2% in 2021, 4.3% in 2022, 2.5% in 2023 (vs 5.3% in 2021, 4.6% in 2022 previously)."

"OECD sees Japanese growth of 1.8% in 2021, 3.4% in 2022, 1.1% in 2023 (vs 2.5% in 2021, 2.1% in 2022 previously)."

"Inflation to peak end 2021 at close to 5% in OECD as a whole before receding gradually to around 3% by 2023."

"Best thing central banks can do for now is wait for supply tensions to ease and signal they will act if necessary."

Market reaction

This report doesn't seem to be having a significant impact on market sentiment. As of writing, the US Dollar Index was virtually unchanged on the day at 95.90.