Philippine stocks are expected to continue with their upward trek on expectations the Bangko Sentral ng Pilipiinas will continue to reduce interest rates with inflation settling at 1.9 percent in September 2024.
Inflation in September was the lowest level in 52 months. This is also a significant decline from 3.3 percent in August and 6.1 percent a year earlier. “Recall that consensus initially penciled two cuts for October and December meetings. Expectations have shifted since the Fed cut big in September and central banks globally are in a cat-and-mouse game to get ahead of the curve,” 2TradeAsia.com said.
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Stock market expected to stay in 7,000 territoryEPISODES of profit-taking could occur this week following the US Federal Reserve's jumbo rate cut and the Bangko Sentral ng Pilipinas' (BSP) lowering of bank reserve requirements, analysts said.
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