From Breakingviews - El Nino will brew up potent new economic storm
. Its appearance usually results in, or exacerbates, floods, heatwaves, water scarcity and wildfires, especially in the southern hemisphere. The damage these inflict on crops and infrastructure is inflationary, putting pressure on central banks to tighten monetary policy. If climate change makes such events stronger and more frequent, supply shocks will become embedded.
Oceania felt some of those effects during La Nina. A second consecutive year of floods in Australia contributed to food inflation rising at an annualised rate of 9% in the three months to September 2022, its highest level since 2006, per Rabobank. Meanwhile, New Zealand’s fruit and vegetable price index spikedin March, a month after cyclone Gabrielle hit.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Breakingviews - Weaker China offers opportunities to US and alliesThe failed mutiny against Vladimir Putin hasn’t just weakened the Russian president. It is also a setback for his most important ally, Chinese President Xi Jinping. At the same time, China is grappling with a weaker economy and confronted by a stronger American-led alliance. It no longer seems certain to become the world’s top power.
Baca lebih lajut »
Breakingviews - Italy’s hottest financial saga gets new twistItaly’s most gripping corporate soap opera has entered a new chapter. Delfin, the holding company of the family of late eyewear billionaire Leonardo Del Vecchio, won regulatory approval to raise its stake in Assicurazioni Generali above its current holding of about 10%. Theoretically, that paves the way for Delfin, which already owns 20% in investment bank Mediobanca , to purchase up to 20% in the 30 billion euro top Italian insurer. The prospect got investors excited, lifting shares 5% on Monday. Yet the enthusiasm could be premature.
Baca lebih lajut »
Breakingviews - China plays it safe with new central bank chiefThe new boss of the People’s Bank of China (PBOC) is probably a relief to those anxiously watching the future of the most meritocratic regulator in the country. The ruling Communist Party on Saturday appointed Pan Gongsheng, who has been deputy governor for the past 11 years, as party secretary – the de facto boss that supervises the institution. The Wall Street Journal said that would be a prelude to Pan becoming governor next, citing unnamed sources.
Baca lebih lajut »
This ancient society tried to stop El Niño—with child sacrificeDesperate to make the torrential rains stop, the Chimú people of Peru offered up their most precious resource to the gods: their future. Researchers have only found out the scope of the sacrifice in recent years
Baca lebih lajut »
Heidi Stevens: Mourning the decimation of National GeographicNational Geographic is shrinking to a shell of its former self. I feel a sense of sorrow because this marks a further fraying of the connective tissue we so desperately need to bind us to one another, HeidiStevens13 writes.
Baca lebih lajut »
The 8 Things You Just Can’t Miss at London’s Newly Reopened National Portrait GalleryFrom iconic shots of Kate Moss to a café dedicated to Audrey Hepburn, these are the things every Vogue reader needs to see at the newly reopened National Portrait Gallery.
Baca lebih lajut »