PSEi up 0.08% as BSP hikes rates

By Ed Paolo Salting

Aug 19, 2022 12:23 am

THE Philippine Stock Exchange index (PSEi) gained by 5.64 points on Thursday to close at 6,824.63 on the back of the Bangko Sentral ng Pilipinas (BSP) increasing rates by 50 basis points in order to tame inflation.

Philstocks Financial Inc. research associate Claire Alviar noted that the PSE bucked the trend of Asian markets as the central bank's hike was expected among investors, following an off-cycle 75-basis-point rate adjustment last July.

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