Home BofA cuts 2020 global GDP forecast
FXStreet News

BofA cuts 2020 global GDP forecast

Bank of America (BofA) has cut its forecast for global economic growth to 2.2% for 2020 from 2.8% estimated earlier, as noted by popular analyst Holger Zschaepitz.

The coronavirus outbreak outside China is expected to slice 0.4% off the US and Eurozone gross domestic product (GDP) and 0.6% off China’s GDP, according to the investment bank. 

Key quotes

Risks remain very much to the downside. 

In “moderate recession” scenario growth is just 1.4% globally.
 

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.