PSEi gains as investors buckle up for another Fed rate hike

The benchmark Philippine Stock Exchange index (PSEi) saw a rebound after a two-day holiday as investors placed bets before the influential US Federal Reserve’s rate-setting meeting Wednesday.

The PSEi bounced higher by 0.86 percent, or 52.81 points, to 6,206.24 while the broader All Shares index added 0.61 percent, or 19.72 points, to 3,277.01.

The US Fed is expected to raise interest rates by another 75 basis points to further slow the pace of surging consumer prices.

At the same time, Bangko Sentral ng Pilipinas Governor Felipe Medalla said last week he would vote to match policy moves in the US to help bring down inflation to the Philippines’ target range of 2-4 percent next …

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