Last but not least, last year the RBA joined the Network for Greening the Financial System (NGFS), a group of central banks that are examining climate issues. [14] Through all of these channels, we are trying to learn and benefit as much as possible from the expertise of others to understand and contribute to the discussion around the serious challenge of climate change.
The Governing Council has been closely monitoring incoming information since our meeting in early September. While euro area domestic demand remains resilient, concerns over growth prospects in emerging markets and possible repercussions for the economy from developments in financial and commodity markets continue to signal downside risks to the outlook for growth and inflation.