Inflation, rate cut outlooks seen boosting PSEi further

THE stock market could rise further this week given an improved inflation outlook and the Bangko Sentral ng Pilipinas insisting that it was likely to begin cutting key interest rates in August, analysts said.After plunging to 6,158.48 a week earlier, the benchmark Philippine Stock Exchange index rallied to end Friday at 6,411.91 for a 4.12-percent week-on-week gain, its biggest for the year.Online brokerage firm 2TradeAsia.

senior research analyst Japhet Tantiangco also said that the local bourse could extend its climb this week following the BSP's latest guidance.'The BSP has downgraded its risk-adjusted inflation forecast for 2024 and 2025,' he noted, adding that 'BSP Governor Eli Remolona has signaled the possibility of a rate cut in their August meeting.

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