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Manila Bulletin devider Business devider The Stock Market devider PSEi up on hopes for BSP rate cuts to support peso

PSEi up on hopes for BSP rate cuts to support peso

Published Aug 6, 2025 06:44 pm
The Philippine Stock Exchange index (PSEi) registered an increase on Wednesday, Aug. 6, fueled by optimism that the Bangko Sentral ng Pilipinas (BSP) will cut key interest rates and support the peso.
The main index gained 17.02 points, or 0.27 percent, to close at 6,370.65. Sectoral indices were evenly mixed, with a total of 665 million shares valued at ₱6.78 billion traded. Advancers outnumbered decliners 93 to 84, with 63 issues remaining unchanged.
“The PSEi closed up even as investors are still weighing their positions, driven by left and right earnings sentiment. Moreover, there is growing optimism regarding the lower inflation, which could influence the BSP's decision in its upcoming meeting,” said Luis Limlingan, Managing Director at Regina Capital Development Corp.
Philstocks Financial Research Manager Japhet Tantiangco added, “The local market rallied further as investors continued to cheer the Philippines' slow July inflation print and the possibility of further rate cuts by the Bangko Sentral ng Pilipinas as a consequence.”
Tantiangco also noted that investors were encouraged by the improved labor market, with the employment rate increasing to 96.3 percent in June from 96.1 percent the previous month.
Rizal Commercial Banking Corp. Chief Economist Michael Ricafort, meanwhile, said that investor sentiment was further supported by the BSP's recent statement.
The central bank announced it would intervene more forcefully during extended periods of peso weakness as part of a new strategy, moving away from day-to-day interventions. The BSP has adopted a new formula to determine the magnitude of peso losses that trigger stronger intervention, aiming to curb price pressures.

Related Tags

Philippine Stock Exchange index Regina Capital Development Corporation Luis Limlingan Japhet Tantiangco Philstocks Financial Rizal Commercial Banking Corporation Michael L. Ricafort
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