Climate Change and Minsky Moment

surprise decision: But the focus of that fear, at a Toronto talk on Friday, was climate change, not the economic elephant in the room, Brexit, according to The Toronto Star. The former Bank of Canada governor talked about the implications of climate change on the financial sector with Environment Minister Catherine McKenna, at a packed Toronto Region Board of Trade event a day after the Bank of England announced a surprise decision to keep the U.K. interest rate as it is. Order this photo By Sunny Freeman Business Reporter Fri., July 15, 2016 Fear of a Minsky moment — a sudden collapse in asset values that could set economies ablaze — keeps Bank of England governor Mark Carney up at night. The thing that keeps central bankers up at night is the sort of sudden change in risk. We've had risk of that in recent years and we don't want to have one around climate. We saw that in 2007- 2008, he said. (news.financializer.com). As reported in the news.