The ratings firm says GDP could be as low as 1.7% from their previous forecast of 2.2%
- Then a rebound in 2021
Expect one additional rate cut from the RBA
S&P cite:
- GDP hit from mainly tourism and education - many Chinese students may not be able to start the new academic year
- sees lower commodity prices
- On the bright side, a lower AUD would act as cushion
Deer, meet headlihgts.
