The benchmark Philippine Stock Exchange Index (PSEi) ended lower on Thursday as persistent inflationary concerns continued to cloud the country’s economic prospects during a pandemic.
By the closing bell, the PSEi was down 0.26 percent, or 18.01 points, to 6,924.99 while the broader all-shares index rose 0.06 percent, or 2.5 points, to 4,274.66.
In a report, the research team of the Bank of the Philippine Islands (BPI) said full-year inflation could hit 4.3 percent, eclipsing the government’s target of 2 to 4 percent.
The team said this could prompt the Bangko Sentral ng Pilipinas to hike interest rates in the coming months.
Upside risks
“We continue to see upside risks that c…
Keep on reading: PSEi slips as inflation woes obscure economic comeback