Philippines stocks are expected to trade sideways after the previous week’s decline as investors await direction on policy rates in the upcoming Monetary Board meeting this week.
Ricafort said while the BSP would likely match the latest US Federal Reserve’s rate pause for the 6th straight month on May 1, 2024 and would match any possible future Fed rate cuts later in 2024 and in 2025, investors remained cautious due to higher-for-longer signals from some Fed officials recently.
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