May 7, 2021
The European Central Bank (ECB) has warned that climate change poses a risk to financial stability and could affect monetary policy.
”(It) is pretty obvious, climate change will have has already an impact on price stability, whether you look at climate related events, whether you look at particularly exposed areas, prices will be determined as a result of that,” European Central Bank President Christine Lagarde said remotely during the State of the Union conference, CNBC reports.
The ECB is undergoing a policy review of all aspects of its monetary policy, and climate change risks are also being considered in a report.
ECB s Lagarde sees 1st COVID-19 jab reaching 70% of euro zone by June
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U S , U K Look Past Covid-19 and See Economic Resurgence
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Gold Heads for Third Weekly Gain as Investors Weigh Demand, Jobs
Bloomberg 3 hrs ago Ranjeetha Pakiam
(Bloomberg) Gold headed for a third straight weekly gain as investors assessed signs of a recovery in physical demand with optimism over the U.S. labor market.
Gold shipments from Switzerland to India and China rose last month, indicating renewed buying by the top consumers after a year on the sidelines. Meanwhile, applications for U.S. state unemployment insurance unexpectedly plunged to a fresh pandemic low, signaling that the job market is strengthening, which weighed on demand for haven assets.
Traders were also mulling a proposal for higher taxes on the wealthy to help pay for President Joe Biden’s social plan. U.S. stocks had their biggest slide in five weeks on Thursday as Bloomberg News reported the Biden administration is considering almost doubling the capital gains tax rate to 39.6% for those earning $1 million or more a year.