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Coronavirus

OECD warns omicron may intensify supply shortages and inflation

Central banks must be ready to act if price pressures broaden and become self-reinforcing

The OECD warns that monetary policymakers should be “cautious” given the new omicron coronavirus variant and that the most urgent need is to accelerate deployment of Covid vaccines.   © Reuters

LONDON (Financial Times) -- The Omicron coronavirus variant threatens to intensify imbalances that are slowing growth and boosting inflation, and to delay the world economy's return to normality, the OECD said on Wednesday as it published its latest forecasts.

The Paris-based international organization of largely rich country members warned that monetary policymakers should be "cautious" given the new strain of the virus and that the most urgent need is to accelerate deployment of Covid vaccines.

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