PH equities cheer BSP rate hike

Philippine shares climbed on Friday after the Bangko Sentral ng Pilipinas (BSP) delivered an expected interest rate hike, brushing off central bank Governor Felipe Medalla's warning of sustained inflationary pressures through the first semester of 2023. By the closing bell, the Philippine Stock Exchange Index (PSEi) added 0.57 percent, or 39.23 points, to 6,863.86 while the broader All Shares index added 0.44 percent, or 15.80 points, to 3,635.57. A total of 1.57 billion shares valued at P5.15 billion changed hands while foreign buying narrowly edged out selling by P10.7 million, data from the stock exchange showed. The BSP announced a 50-basis point rate hike to 3.75 percent af...

Keep on reading: PH equities cheer BSP rate hike

from INQUIRER.net https://ift.tt/TA6kJcG