The benchmark Philippine Stock Exchange index rose by 18.27 points or 0.29% on Monday to close at 6,183.62, while the broader all shares index went up by 8.34 points or 0.25% to 3,348.46.
First Metro Investment Corp. Head of Research Cristina S. Ulang said in a Viber message that the market was “lifted by hopes that BSP has strong resolve to control inflation if indeed the data for last month come out way above consensus expectations.” Mr. Limlingan added that Philippine inflation data to be released on Tuesday will be monitored by the market, as well as the publication of the minutes of the US Federal Reserve’s June meeting and US jobs data this week.BusinessWorld
If realized, this would be well above the BSP’s 2-4% target and 5% forecast for the year and would also be faster than the 5.4% print in May and 3.7% in June last year.BSP Governor Felipe M. Medalla last week said the central bank may consider a more aggressive rate hike at its Aug. 18 meeting if inflation maintains its upward momentum, but noted the decision will remain data-dependent.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Manufacturing Purchasing Managers’ Index (PMI) of select ASEAN economies, June (2022) - BusinessWorld OnlineManufacturing Purchasing Managers’ Index (PMI) of select ASEAN economies, June (2022) READ:
Source: bworldph - 🏆 9. / 68 Read more »
Analysts’ June 2022 inflation rate estimates - BusinessWorld OnlinePHILIPPINE INFLATION probably hit 6% in June amid spiraling oil and food prices and higher electricity rates, according to a median estimate of 16 analysts in a BusinessWorld poll last week, boosting the case for bigger increases in key interest rates.
Source: bworldph - 🏆 9. / 68 Read more »
June inflation likely hit 6% — poll - BusinessWorld OnlinePhilippine inflation probably hit 6% in June amid spiraling oil and food prices and higher electricity rates, according to a median estimate of 16 analysts in a BusinessWorld poll last week, boosting the case for bigger increases in key interest rates.
Source: bworldph - 🏆 9. / 68 Read more »
PSEi up on selective bargain huntingThe Philippine Stock Exchange index (PSEi) posted a modest gain amid thin trades due to selective bargain hunting in heavyweight stocks.
Source: manilabulletin - 🏆 25. / 51 Read more »
Sandra Lemonon introduces son, to whom she gave birth last JuneSandra Lemonon is already a mom!
Source: gmanews - 🏆 11. / 68 Read more »
June inflation likely hit 6% — poll - BusinessWorld OnlinePhilippine inflation probably hit 6% in June amid spiraling oil and food prices and higher electricity rates, according to a median estimate of 16 analysts in a BusinessWorld poll last week, boosting the case for bigger increases in key interest rates.
Source: bworldph - 🏆 9. / 68 Read more »