Uncertainty linked to climate change and policies to mitigate its impact is acute, and the effect the economy and financial system as well as the implications for monetary policy is yet unclear, Reserve Bank of Australia Deputy Governor Michele Bullock said Tuesday. "The timing and intensity of effects are uncertain, and these could be severe and irreversible if tipping points are reached," RBA Governor-designate Bullock said.
"In addition, it is unclear how the policies, preferences and technologies associated with climate mitigation will evolve."
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Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.