Fitch: China’s full-year growth to dip below 2% in 2020

The US-based Fitch Ratings came out with its economic assessment report on the Chinese economy, in light of the coronavirus pandemic.

Key takeaways

Much of China’s coronavirus policy response is still pending.

Expect activity to remain weak through first half of year, and for full-year growth to dip below 2% in 2020, from 6.1% in 2019.

Projects China’s fiscal deficit will rise to 8% of GDP this year, from 5.8% in 2019.

AUD/USD sidelined below 0.6250

AUD/USD keeps its range play intact below 0.6250, little affected by the gloomy Chinese growth prospects, as the risk-on market mood underpins.