The OECD is expecting global growth of just 1.4 per cent. It also says the Eurozone will stay into recession well until 2013 and it's calling on faster reforms to banking systems and jobs growth.

 

 

 

“This is meant to be a massive wake-up call. A call to go structural, to go social, not to neglect the victims of the crisis. If we do not adopt these social, structural, green, institutional measures, we will not be able to avoid the mediocrity, the rather undesirable scenario that we see. We need bold, courageous decisions.”

 

 

 

The latest from the OECD there.

 

 

 

Let's go to the markets.

 

 

 

The Dow lost 70 points overnight. The Nasdaq dropped four. The S&P 500 lost six. And across in London overnight, the FTSE put on 13 points. 

 

 

 

To commodity markets.

 

 

 

West Texas Crude is trading at 87 US dollars a barrel. Tapis Crude is 114 US dollars a barrel. And gold is worth 1741 US dollars an ounce.

 

 

 

The Australian dollar is buying 104 US cents. It's also picking up 81 Euro cents and 65 pence sterling.