OctaFX | OctaFX Forex Broker
Open trading account

Coronavirus outbreak is credit negative for Australian banks - Moody's

Coronavirus outbreak and the resulting travel restrictions will negatively hit banks' asset quality and is a credit negative development for Australian banks, ratings agency Moody's said on Friday. 

Meanwhile, Reserve Bank of Australia's governor Lowe was out on the wires earlier today stating that the negative impact of coronavirus on the Australian economy could be bigger than that of SARS outbreak of 2002-2003.

As per latest reports, the death toll and the number of infections continue to climb in China. Nationwide, more than 70 new deaths and 3,100 new cases emerged in the previous 24 hours, the national health authorities said Friday morning, according to The New York Times. 


Fitch Ratings: Coronavirus may add to liquidity strain for some APAC corporates

The coronavirus epidemic will have a negative impact on operations and cause disruption for several corporate sectors within and beyond China For APAC
Read more Previous

China CBIRC Chair Zhou: Coronavirus will not have big impact on China's financial system

China Banking and Insurance Regulatory Commission Vice Chair Zhou said on Friday, coronavirus will not have big impact on China's financial system. Ad
Read more Next
Start livechat