The financial turmoil in EMEs in early 2014 was less acute than in mid-2013
Credit has increased rapidly
Inflationary pressures in the OECD are currently weak
Disinflation and increasing economic slack
Disinflation in euro area prices and costs
Investment is below pre-crisis levels in most OECD economies
Investment ratios are below illustrative steady state estimates in most OECD economies
Policy uncertainty is starting to fade
OECD financial conditions remain accommodative
Credit growth and standards
Developments in bank lending
Global growth is picking up, led by the OECD economies
Labour market slack is diminishing slowly
Employment is projected to grow in almost all OECD countries
Considerable economic slack remains due to involuntary part-time workers
Policy interest rates in many EMEs have been increased
Financial-accounts-related risk factors to financial stability
The global recovery will gain momentum only slowly
Selected indicators of the banking sector
Housing market developments continue to diverge
OECD labour market conditions are likely to improve slowly
World trade will strengthen only gradually
Fiscal positions will continue to improve
Table 1Aa. Indicators of potential financial vulnerabilities
Table 1Ab. Indicators of potential financial vulnerabilities