PSEi rebounds as softer inflation boosts rate-cut hopes

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

MANILA, Philippines – Local stocks snapped a losing streak on Friday as investors welcomed a slower-than-expected inflation report, raising hopes for possible easing of monetary policy by the Bangko Sentral ng Pilipinas (BSP).

The benchmark Philippine Stock Exchange Index (PSEi) climbed 0.45 percent or 26.45 points, to close at 5,938.38, recovering from recent weakness as sentiment improved following the release of May inflation data.

READ: Inflation slows to 6.8% in May

According to Philstocks Financial Inc., the market drew support from the latest inflation reading of 6.8 percent, which came in below both the BSP’s 7.1-7.9 percent forecast range and April’s 7.2 percent pace.