NZ PM Arden: Forecasts are for virus to hurt economy in H1, rebound in H2
|New Zealand (NZ) Prime Minister Jacinda Ardern is out on the wires now, via Reuters, making some comments on NZ Treasury economic forecasts for 2020.
Key Quotes
Treasury sees 2020 GDP growth 2 to 2.5%.
Viral outbreak will hinder the economy in the first half but a second-half rebound.
GDP growth expected to be around 2% to 2.5% in 2020.
Coronavirus to have a temporary impact on growth.
NZD/USD weakens on Arden’s comments
The NZ dollar moved a few pips lower on the downbeat remarks from PM Arden, dragging NZD/USD to print a new daily low of 0.6429, where it now wavers. The spot is down 0.16% on the day.
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