Michele Bullock says climate change poses a "particularly acute" challenge to the Australian economy.
Michele Bullock says climate change poses a "particularly acute" challenge to the Australian economy.
"The timing and intensity of effects are uncertain, and these could be severe and irreversible if tipping points are reached." "But we are on a university campus and I'm pleased to hear that there is still some activism that goes on, even if it's at my expense." Bullock said power prices could soar if energy from closing fossil fuel sources wasn't replaced quickly enough, but added a quicker transition to renewables would lower prices.She outlined how climate change would make setting interest rates more difficult when she takes the RBA's top job next month.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Climate change could light a fire under interest rates, warns incoming RBA bossReserve Bank deputy governor Michele Bullock, who will take over the institution next month, has warned climate change will affect monetary policy.
Read more »
Coal closures could drive energy prices higher: RBA’s BullockSky-high energy prices could increase further if the end of coal-fired power is not matched with enough renewables, incoming RBA governor Michele Bullock says.
Read more »
Incoming RBA governor flags future changes to controlling inflation due to 'uncertainty' from climate changeIncoming RBA governor Michele Bullock says the central bank will need to reassess how it controls inflation in the future, saying the growing uncertainty posed by climate change will pose a new economic challenge.
Read more »
Climate crisis to create ‘acute’ challenges for Australia’s economy, incoming RBA governor saysMichele Bullock uses speech to detail how central bank is preparing for increased risk of extreme weather events
Read more »
Live: ASX set to rise after US, European stocks gainLocal stocks are poised to add to Monday's gains. Incoming RBA governor Michele Bullock will speak after the close of trade. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Read more »
Sandra Bullock ‘grateful’ for support after partner’s death from ALSActress Sandra Bullock is feeling “grateful” for the support she’s received following the death of her longtime partner Bryan Randall.
Read more »