Rolling coverage of the latest economic and financial news, including new PMI surveys of the world’s manufacturing
- Lagarde: ECB must fight climate emergency
- Trump imposes tariffs on Brazil and Argentina
- Also urges Fed to weaken the dollar
- UK factories slash jobs
- China’s factory growth hits three-year high
- But Ireland cuts jobs as exports fall
- Coming up: Christine Lagarde at European Parliament
Q: You say will make climate change one of the priorities of the ECB… do you have full support of that plan? How will you persuade counterparts at other central banks who think fighting the climate crisis is a fiscal issue? And what specific measures will you propose?
Christine Lagarde says there are several ways of “greening” the ECB’s work – including adding a climate crisis focus to its analytical work, the risk assessment it carries out, and its own pension fund management.
Another MEP tackles Christine Lagarde on the ECB’s commitment to the climate crisis.
He points out that the ECB’s stimulus scheme has bought more bonds from the automotive industry, and from energy companies, than the market average, while neglecting the renewables industry.
I would hope that the three big, well known rating agencies move in that direction. If they ask me my views, I will tell them.
When it comes to strategic review, it needs to be debated by all members of the governing council….I’m not running a single-woman shop.