Fitch rating agency revises Australia’s outlook to negative (previously “stable”) and confirms “AAA” rating
- says negative outlook reflects significant impact of global coronavirus pandemic on Australian economy and public finances
- Australia’s GDP to contract by 5% in 2020, driven by a drop in economic activity in the second quarter due to virus containment measures
- says expect gradual economic recovery
Australia to start in the second half of 2020 and forecasts GDP growth of
4.8% in 2021
Life is a Fitch then you die?
The AUD barely changed.