Europe’s effort to wean its economy off Russian gas is likely to be a persistent boost to inflation even beyond the current spike, European Central Bank board member Isabel Schnabel says.
Banks in southern Europe are set to be among the hardest hit if climate change is not mitigated as their clients are most exposed to natural hazards such as wildfires, a European Central Bank study shows.
Cutting planet-warming emissions to "net zero" by 2050 could lift growth and employment but would require an inflation-boosting $160 per tonne carbon price by the end of the decade, an umbrella group of the world's top central banks say.
