PSEi down 0.81% on Fed, BSP news

By Ed Paolo Salting

Nov 04, 2022 12:19 am

NEWS that the US central bank was unlikely to end its rate hike spree anytime soon weighed on Asian stock markets on Thursday, with the benchmark Philippine Stock Exchange index (PSEi) among those affected.

Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla's early morning announcement that policymakers would match the Fed's latest 75-basis-point increase later this month didn't help, with the day's low of 6,110.03 hit around mid-morning.

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