{"id":61947,"date":"2020-02-14T09:43:42","date_gmt":"2020-02-14T01:43:42","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=61947"},"modified":"2020-02-14T09:43:43","modified_gmt":"2020-02-14T01:43:43","slug":"climate-change-cooling-australias-economy-rba-governor","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=61947","title":{"rendered":"Climate change cooling Australia\u2019s economy: RBA governor"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><a href=\"http:\/\/www.bssnews.net\/wp-content\/uploads\/2020\/02\/Climate-change-cooling-Australias-economy-RBA-governor.jpg\"><img src=\"http:\/\/www.bssnews.net\/wp-content\/uploads\/2020\/02\/Climate-change-cooling-Australias-economy-RBA-governor.jpg\" alt=\"\"\/><\/a><\/figure>\n\n\n\n<p>SYDNEY, Feb 14 (NNN-Xinhua) &#8212; Reserve Bank of Australia (RBA) Governor Philip Lowe warned that climate change is having an effect on the country\u2019s economy and that more should be done to tap into renewable industries.<\/p>\n\n\n\n<p>Speaking at an economic forum in Melbourne, Lowe explained that occurrences linked to climate change such as the recent bushfire disaster and drought, on top of negative consumer sentiment, were likely to have an increasing economic impact.<\/p>\n\n\n\n<p>\u201cThe world is getting hotter and the climate is more variable. We\u2019re seeing already in Australia, perhaps more than anywhere else in the world, the effects of that,\u201d he said.<\/p>\n\n\n\n<p>\u201cThe economic implications are profound.\u201d<\/p>\n\n\n\n<p>According to Lowe, Australia\u2019s agriculture industry is already suffering, with an ongoing drought set to hit the country\u2019s economic growth this year by 0.25 of a percentage point, while the summer\u2019s bushfire disaster would likely cut growth by about 0.2 percentage points.<\/p>\n\n\n\n<p>\u201cClimate change is affecting the nature of production in Australia, the nature of investment, ultimately the nature of our exports. At the moment, I think it\u2019s affecting confidence of people and therefore ultimately spending,\u201d Lowe said.<\/p>\n\n\n\n<p>\u201cAddressing climate change isn\u2019t something that is any responsibility of the Reserve Bank of Australia, but what we do have a responsibility to do is to understand the economic and the financial implication of climate change.\u201d &#8212; NNN-XINHUA<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SYDNEY, Feb 14 (NNN-Xinhua) &#8212; Reserve Bank of Australia (RBA) Governor Philip Lowe warned that climate change is having an effect on the country\u2019s economy and that more should be done to tap into renewable industries. Speaking at an economic forum in Melbourne, Lowe explained that occurrences linked to climate change such as the recent [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/61947"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61947"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/61947\/revisions"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61947"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}