MARKET OPEN: Pendulum swings back to risk-off on rising covid cases, IMF forecasts

Thu, 25 Jun 2020

New Zealand’s stock market may slide after the International Monetary Fund painted an even bleaker global economic picture and covid-19 cases continued to rise in the US. The IMF now sees the global economy contracting 4.9 percent in 2020, 1.9 percentage points more than the April World Economic Outlook forecast. “The covid-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast,” the IMF said. “Given the recent rise in...

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