PSEi poised to test 6,800 as PH restarts fight vs inflation

Investors will be watching key resistance levels after the benchmark Philippine Stock Exchange index rallied in the first week of 2023 on bets over the reopening of China and slowing domestic inflation in the coming months.

On Jan. 5, the Philippine Statistics Authority said inflation in December rose to 8.1 percent, bringing the full-year average to 5.8 percent.

Bank of the Philippine Islands said there was room for the BSP to further hike interest rates “in the first half of the year,” adding: “Recent indicators have shown that demand remains strong as consumers continue to engage in revenge spending, and there might be a need to temper this through rate hikes in order to guide inflation back to the preferred path.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

inquirerdotnet /  🏆 3. in PH

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Investors secure profits, ending PSEi’s new year rallyThe benchmark Philippine Stock Exchange index (PSEi) ended a three-day winning streak as investors pocketed profits ahead of the weekend. By the closing bell, the PSEi sank 1.38 percent, or 93.36
Read more »

Bill giving senior citizens 20% off on road toll fees pushed | Philippine News AgencyQuezon City Rep. Marvin Rillo wants to expand the transportation and road use privileges of the country’s senior citizens by granting them a 20 percent discount on the toll fees levied by expressway and skyway operators. “Senior citizens who own motor vehicles deserve special access to skyways and expressways, including…
Read more »

[OPINION] 5 thoughts about the Philippine healthcare system'There is a lot that needs to be done with regard to our healthcare system, from reducing hospitalization costs, increasing worker wages, and avoiding potential price-gouging, among other concerns.' ThoughtLeaders
Read more »

LPA inside PAR unlikely to turn into tropical cyclone — PagasaMANILA, Philippines — A low pressure area (LPA) now inside the Philippine area of responsibility (PAR) is unlikely to turn into a tropical cyclone, the Philippine Atmospheric, Geophysical and
Read more »

TraslacionDevotees participate in the Walk of Faith as a replacement to the annual Traslacion from the Quirino Grandstand to Quiapo Church on Sunday, January 8, 2023. Photos by Rappler
Read more »

SinulogDancers from different contingents perform during the Sinulog sa Kabataan at the Cebu City Sports Complex on Sunday, January 8. Sinulog2023 Photos by Jacqueline Hernandez/Rappler
Read more »