Wed. Sep 30th, 2020

Trump hits Brazil and Argentina with steel tariffs; Lagarde on climate emergency – business live

Rolling coverage of the latest economic and financial news, including new PMI surveys of the world’s manufacturing

Earlier:

4.08pm GMT

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.

3.53pm GMT

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.

Continue reading…Rolling coverage of the latest economic and financial news, including new PMI surveys of the world’s manufacturingLagarde: ECB must fight climate emergencyTrump imposes tariffs on Brazil and ArgentinaAlso urges Fed to weaken the dollarEarlier:UK factories slash jobsChina’s factory growth hits three-year highBut Ireland cuts jobs as exports fallComing up: Christine Lagarde at European Parliament 4.08pm GMTQ: 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. 3.53pm GMTAnother 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. Continue reading…

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