Possible reserve cut drives PSEi up for second day

MANILA -The benchmark Philippine Stock Exchange index (PSEi) rose for a second-straight session as the head of the Bangko Sentral ng Pilipinas (BSP) signaled they were looking at options to slow or reverse the current cycle of aggressive monetary tightening. The BSP's next policy meeting is scheduled Thursday, May 18. The PSEi rose 0.70 percent, or 46.21 points, to 6,635.11 while the broader All Shares index added 0.41 percent, or 14.48 points, to 3,533.84. According to news reports, BSP governor Felipe Medalla said they would consider options for "loosening monetary conditions even if we cannot cut rates." He said one option was the cut the reserve requirement that banks are...

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