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 (BSP) 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 (PSEI) rallied to end Friday at 6,411.91 for a 4.12-percent week-on-week gain, its biggest for the year.