Oil price falls may have negative effects on global economy, ECB warns
Demand-driven oil price falls have negative impact on GDP growth, simulations suggest
Low oil prices may have a negative effect on global GDP growth, the European Central Bank (ECB) said today (June 13). The fall in prices since June 2014 could also could threaten the financial stability of commodity-exporting countries and other emerging market economies, it added.
Some observers had expected lower oil prices to boost consumption of other goods in oil-importing countries, but the ECB's account suggests this has not been materialising.
A shift from supply factors to demand as the
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