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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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.