ECB should pump money into economy, says OECD

The OECD has warned that the eurozone could be damaged more than the US by the soaring oil prices, urging the European Central Bank to run a 'very expansive' monetary policy in order to avert an economic downturn.

The Paris-based body, representing 30 of the world’s richest countries, argues the full consequences of the US natural disaster for the world's economy have not been estimated yet.

But the combination of the direct damage in the US and rising oil prices is likely to caus...