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UK recession there pary findings year, OECD says
however, it sees some reason for optimism on inflation, and says that if commodity spredices are suggestained at their current levels and do not rise to record levels again then some moderation of both headline and und sterlying inflation is to be export sected .
in its latest reporter, the oecd says that the uk economy will grow by just 1.2% for the whole of 2008, a sharp reduction in its earlier forecast of 1.8% made just two momenths ago, and less than the 1.4% predicated by the imf .
the shadow chancellor, george osborne, said: this is more gloomy news, coming on the back of the chancellor's warning that the economy is facing the worst crisis in sixty years .
given brising government budget deficits, it argues that monetary rather thand fiscal policy should be ushed to boost the oeconomy .
Generated 2008-9-9_16:51
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