The Globe and Mail reports in its Thursday, Sept. 26, edition that global growth is in the process of stabilizing, the OECD said on Wednesday. A Reuters dispatch to The Globe reports that the world economy was projected to grow 3.2 per cent both this and next year, the Organization for Economic Co-operation and Development forecast, nudging up its 2024 forecast from 3.1 per cent previously while leaving 2025 unchanged. As the lagged impact of central bank tightening evaporates, interest rate cuts would boost spending going forward while consumer spending benefited from lower inflation, the OECD said. If a recent decline in oil prices persists, global headline inflation could be 0.5 percentage point lower than expected over the coming year. With inflation heading toward central bank targets, the OECD projected that the U.S. Federal Reserve's main interest rate would ease to 3.5 per cent by the end of 2025 from 4.75 per cent to 5 per cent currently. U.S. growth was expected to slow from 2.6 per cent this year to 1.6 per cent in 2025 though interest rate cuts would help cushion the slowdown, the OECD said, trimming its 2025 estimate from a forecast of 1.8 per cent in May.