BRASILIA (Reuters) – Brazil’s central bank President Roberto Campos Neto said on Tuesday that adverse climate shocks such as heat waves, frosts and prolonged droughts have affected food and energy prices, fueling rising inflation in the country.
Speaking at an online event organized by JP Morgan, he said environmental and climate factors are permeating all aspects of recent economic decisions. Monetary authorities need to watch the vulnerability of the financial system to climate shocks that can cause losses in asset values, he said.
(Reporting by Marcela Ayres and Anthony Boadle; Editing by Chris Reese)
