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Potential BSP rate cut lifts stocks
The Philippine Star
|November 20, 2024
The stock market sustained its winning streak following the Bangko Sentral ng Pilipinas (BSP)'s indication of a third rate cut.
The benchmark Philippine Stock Exchange index (PSEi) climbed back above the 6,800 level yesterday, extending its winning streak to a third consecutive session.
The PSEi finished at 6,803.19, up by 0.62 percent or 41.84 points.
The broader All Shares index also closed in the positive territory, rising by 0.33 percent or 12.48 points to 3,812.18.
BSP Governor Eli Remolona Jr. yesterday hinted at a possible third rate cut.
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