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.
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.
The world could get on track to avert catastrophic climate change by investing a tenth of a planned $12 trillion in pandemic recovery packages in reducing dependence on fossil fuels.
