A very recent study by Bank of Italy economists finds that the medium- and longterm inflation expectations in the ECB’s Survey of Professional Forecasters are now much more susceptible to negative surprises to current inflation than they were in the past. This is a finding that confirms the one that our researchers had already obtained based on inflation expectations derived from inflation swaps.
I say: climate change and biodiversity loss because it is high time to go beyond climate: the world cannot afford to focus on climate change for the next decades and then turn its attention to biodiversity loss. By then there will be no biodiversity left to save. And the financial risks caused by such loss will have manifested themselves much earlier.