PSEi trades lower ahead of rate decision

The local stocks index dipped slightly in thin trade on Thursday ahead of the Bangko Sentral ng Pilipinas’ policy rate-setting meeting.

The main-share Philippine Stock Exchange index shed 9.24 points, or 0.18 percent, to close at 5,152.56 on Friday. This developed as the market awaited confirmation of the rate cut that was priced in by investors ahead of the meeting of the BSP Monetary Board.

After the market closed, the BSP did cut its key interest rates by 25 basis points to a record-low of 3.75 percent.—Doris C. Dumlao

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Tags: Philippines , Stock Activity , stocks