Stock Groups

Brazil central bank chief says climate shocks raising food, energy prices -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO: Brazil’s Central Bank President Roberto Campos Neto speaks at a media statement announcing economic measures during the coronavirus disease (COVID-19) outbreak in Brasilia, Brazil, March 27, 2020. REUTERS/Ueslei Marcelino/File Photo

BRASILIA (Reuters) – Brazil’s central bank President Roberto Campos Neto said on Tuesday that adverse climate shocks such as heat waves, frosts and prolonged droughts have affected food and energy prices, fueling rising inflation in the country.

Speaking at an online event organized by JP Morgan, he said environmental and climate factors are permeating all aspects of recent economic decisions. Monetary authorities need to watch the vulnerability of the financial system to climate shocks that can cause losses in asset values, he said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



[ad_2]