PSEi recovers after Fed hints of doing enough to tame inflation
MANILA -The Philippine stock market closed higher after the US Federal Reserve delivered an expected interest rate hike while hinting at a pause in its tightening cycle. Investors also positioned ahead of the domestic inflation report today, May 5. The benchmark Philippine Stock Exchange index (PSEi) rose 1.18 percent, or 77.66 points, to 6,684.35 on Thursday while the broader All Shares index added 0.81 percent, or 28.46 points, to 3,553.64. The US central bank announced a 25-basis point interest rate hike overnight while signaling it may pause further increases amid broader worries over a US banking crisis. https://business.inquirer.net/399161/fed-raises-rates-opens-door-to-pa...Keep on reading: PSEi recovers after Fed hints of doing enough to tame inflation
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