The green agenda dilemma
Central banks face a choice over whether to support national energy independence or climate goals
Central banks face a dilemma. The energy price shock resulting from the Russian invasion of Ukraine is likely to persist for many years. Western nations now want energy security (or, better still, energy independence). This ambition will likely lead to higher energy prices across the spectrum of energy sources, and represent a setback for net-zero-emission plans. Beyond their price-stability targets, most central banks have mandates that also include an obligation to provide support for wider
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