INVESTORS will likely stay cautious ahead of Thursday's monetary policy meeting, analysts said, following last week's lower-than-expected first quarter growth results and higher April inflation.
INVESTORS will likely stay cautious ahead of Thursday's monetary policy meeting, analysts said, following last week's lower-than-expected first quarter growth results and higher April inflation.The benchmark Philippine Stock Exchange index , which has fallen for two consecutive weeks, ended 1.57 percent lower week-on-week at 6,511.93 last Friday.Bargain-hunting should be expected this week with the PSEi trading at 'attractive levels,' Philstocks Financial Inc.
The inflation and data results will be considered by the BSP's policymaking Monetary Board, which is expected to again hold fire this Thursday and keep key interest rates at at 17-year high.Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said Philippine financial markets would wait for the latest signals on 'possible rate cuts later in 2024 or 2025.
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