Inflation, growth data could provide lift

INFLATION data and second-quarter growth results due this week could bolster rate cut hopes and lift the stock market, which fell by 1.79-percent week-on-week Friday to 6,605.30.

Rizal Commercial Banking Corp. chief economist Michael Ricafort, who described the drop as a healthy correction following recent gains, said share prices would benefit if the data support indications that the Bangko Sentral ng Pilipinas (BSP) would begin lowering key interest rates next week.