Climate change poses ‘acute uncertainty’ for economy – RBA’s Bullock
Incoming governor says climate change may lead to structural changes and affect neutral rate
The Reserve Bank of Australia’s incoming governor, Michele Bullock, warned of “particularly acute” uncertainty over how climate change will affect the economy, suggesting that it could make the setting of monetary policy more challenging.
“Navigating uncertainty is an inherent part of the work of a central bank,” Bullock told an audience at the Australian National University on August 29.
“But the uncertainty around climate change is particularly acute,” the current RBA deputy governor said
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