Climate change feeding higher interest rates Greens
In his statement today on monetary policy Reserve Bank Governor Glenn Stevens confirmed that the RBA has "taken careful note of the likely economic effects of drought". The current drought and reduced rainfall patterns, are exacerbated by climate change.
"Climate change is going to drive up the costs of food, the costs of fuel and the costs of water. The Howard Government likes to talk about its record on fighting inflation, yet it has failed to tackle the number one long run cause of increased cost of living in Australia," said Greens Leader, Senator Bob Brown.