Fitch Ratings has said that Australia’s growth at decade-low despite de-synchronised cycles:
- The Australian economy has been slowing down quite sharply since second half of last year.
- GDP growth will slow to decade low of 2% this year despite de-synchronised movements in house prices, commodity price.
On 8th May, the agency stated that Australia’s ‘AAA’ rating is underpinned by an effective policymaking framework that has supported 27 consecutive years of GDP growth in the face of substantial external, financial, and commodity-price shocks. The ‘AAA’ rating also reflects high income levels, strong governance, and credible policymaking institutions.
This followed Fitch Ratings-Hong Kong on the 17th April 2019 stating that Fitch Ratings has affirmed Australia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘AAA’ with a Stable Outlook.
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