“If more and more climate disasters, droughts and famines occur throughout the world, there will be repercussions on prices, on insurance premiums and on the financial sector,” European Central Bank (ECB) President Christine Lagarde said in an interview with Madame Figaro.
Additional comments
We can no longer rely exclusively on the projections provided by our models.
They have repeatedly had to be revised upwards over these past two years.
Not in favour of deglobalisation, but rather of a neo-globalisation based on principles other than being ever cheaper and ever faster.
Market reaction
Lagarde’s comments failed to move the needle around EUR/USD, as it continues to trade around 1.000, retaining 0.35% on the higher side.