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Index stays above 7,000
The Philippine Star
|September 14, 2024
The local stock exchange has managed to stay above the 7,000-level to close the week, gearing up for whatever interest rate decision the US Federal Reserve makes.
Reginal Capital Development Corp. head of sales Luis Limlingan said investors chose to stay on the sidelines awaiting the Fed's decision on whether to cut rates.
The Federal Open Market Committee is scheduled to meet on Sept. 17 to 18 to firm up an interest rate decision now that inflation is coming down.
Investors believe the Fed will pursue a rate cut, by 25 basis points, considering the confidence gained in combating price pressures.
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