OECD's global economic growth forecast improves slightly

A key international economic watchdog has nudged up its forecast for global economic growth this year in response to low prices and expectations that interest rates will remain low in many leading economies.

The Organisation for Economic Co-operation and Development (OECD), a grouping of the world’s richest countries that acts like a think tank, said that easy and cheap monetary policy in many parts of the world, including Europe, has helped underpin growth.