Climate crisis to create ‘acute’ challenges for Australia’s economy, incoming RBA governor says

Michele Bullock uses speech to detail how central bank is preparing for increased risk of extreme weather events

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Global heating will present the Reserve Bank with acute" challenges, including heightened uncertainty around how the climate will change and the resulting impacts on the economy and financial system, the incoming governor, Michele Bullock, has said.

Bullock, now deputy RBA governor before her elevation to the top post on 18 September, used her Sir Leslie Melville lecture at the Australian National University on Tuesday - after a brief disruption from protesters - to detail how the central bank was preparing for a warming world and the increased risk of extreme weather events.

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