The bellwether Philippine Stock Exchange index rose by 126.37 points or 2.04% to close at 6,309.99 on Monday, while the broader all shares index went up by 50.24 points or 1.50% to 3,398.70.
“We expect the BSP to signal policy rate hikes by as much as 50 bps in the next rate-setting meeting to mitigate the risk of second-round effects from higher wages and transportation fares. We believe this will be met positively by the market given the central bank’s dovish stance on inflation thus far,” Mr. Fuentes said.
The June headline print is a near four-year peak, matching the pace recorded in November 2018 and was the fastest since the 6.9% logged in October 2018.
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