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The Week Ahead – The OPEC, BOC, RBA and RBI Meetings, China, Swiss and Norway CPI

Nomura – The Week Ahead

CHAPTER

The Risks of a Second European Drought

There are other risks for another European drought with food prices already quite high in Europe. Scarce snow in the Alps, warm temperatures and a widespread lack of rain as you heard have scientists worried about a second summer of drought in Europe. An exceptionally wet march in the UK luckily restored many reservoir levels which ran extremely low last year. But water levels underground in the UK which supply rivers are still depleted. That's thanks in part to the 8th driest February in the UK back all way to 1836.

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