THE market appears headed for an upswing this week as investors shift focus toward the political and economic policies of the Trump administration, as well as the Bangko Sentral ng Pilipinas (BSP) policy meeting this week. The Fed hiked interest rates by 25 basis points (bps) last week, the second increase after the 25 bps in December last year. This week, investors will watch closely the result of the BSP meeting on local interest rates, he said. Moving forward, not only the BSP meeting but also Trump’s moves will be looked at by nations due to his protectionist nature. “Since the Fed’s meeting, the Philippine peso has appreciated by about 0.3 percent against the US dollar, giving BSP more room to adjust rates later than sooner.

Source: Manila Times March 19, 2017 17:03 UTC