The stock market capped off the week on a high note, posting slight gains to extend its winning streak to a third straight day.
MANILA, Philippines —
“This increase was driven by heightened expectations of a possible rate cut by the Bangko Sentral ng Pilipinas in the early part of the second half of the year, following the latest inflation data, which fell within the government’s target range of two to four percent,” Claire Alviar of Philstocks Financial said.
“US investors are in a holding pattern ahead of the May jobs report, anticipating that signs of a slowing labor market could prompt the Fed to consider interest rate cuts,” he said. The Bangko Sentral ng Pilipinas may cut interest rates by as much as 150 basis points in the next two years mainly due to...
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