NZ PM Arden: Forecasts are for virus to hurt economy in H1, rebound in H2

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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