THE MAIN INDEX will continue to test the 7,000 level ahead of the release of January inflation data this week, which could set the tone for the Bangko Sentral ng Pilipinas’ policy move this month.
The US central bank last week raised its federal funds rate by 25 basis points to a 4.5% to 4.75% range, bringing total hikes since March 2022 to 450 bps. “An inflation rate near the upper end of the BSP’s 7.5%-8.3% projection may pull the local bourse down, while a print biased to the lower end of the forecast may spur optimism,” he added.
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