Weak prospects in emerging economies have led to the OECD downgrading global growth forecasts
Global growth forecasts for 2013 and 2014 have been downgraded "significantly" after weak prospects in emerging market economies, said the OECD.
But it said global economic growth would speed up by 2015.
The leading economic agency said the UK would grow by 1.4% for this year, below the Bank of England's 1.6% estimation.
It said "weakness" in the banking system was a "major drag" on growth in the euro area.
The "potentially catastrophic crisis" over the debt ceiling in the US and "strong" market reaction to its suggestion of tapering had also unsettled confidence, it said.
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