The Reserve Bank of New Zealand particularly citing drought and other sever weather conditions.
The Bank has published a piece by Reserve Bank Assistant Governor Simone Robbers with this (bolding mine):
- As the systemic impact of climate change on the economy and the financial system becomes clearer, the responses of central banks and regulators around the world have been evolving rapidly too.
- While there's variation in our individual mandates, at their heart they are about stability. Stability in terms of prices - monetary stability. And stability in terms of the broader financial system - financial stability.
