{"id":316724,"date":"2022-08-23T10:00:58","date_gmt":"2022-08-23T02:00:58","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=316724"},"modified":"2023-01-08T15:29:59","modified_gmt":"2023-01-08T07:29:59","slug":"after-bsps-0-50-rate-hike-psei-support-level-expected-to-fall-to","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/after-bsps-0-50-rate-hike-psei-support-level-expected-to-fall-to\/","title":{"rendered":"After BSP&#8217;s 0.50% rate hike, PSEi support level expected to fall to this level"},"content":{"rendered":"\n<p>The Bangko Sentral ng Pilipinas (BSP) raised its benchmark interest rate by 0.50% or 50 basis points (bps) on Thursday last week, and signaled it has room to further hike rates as it battles inflation.<\/p>\n\n\n\n<p><strong>Our view:<\/strong> While the 50-bps rate hike is widely expected, BSP\u2019s upgraded inflation forecast from 5.0% to 5.4% (announced yesterday) and signals of further rate hike may still induce some profit taking but only for a short run, sans any negative externalities, as much of these are still in line with expectations.<\/p>\n\n\n\n<p>We note that BSP is expected to raise interest rates further by another 50bps towards the yearend while inflation has yet to peak by September\/October, implying that we may still see CPI print hovering above 6% for another 2 to 3 months. Therefore, going forward after uncertainties from this subside, we expect market movement to be largely influenced by external factors and would likely take cue from US market sentiment.<\/p>\n\n\n\n<p>Chart-wise, immediate support level of PSEi remains at 6,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here&#8217;s a commentary on an important issue or event affecting the stock market  <\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-316724","post","type-post","status-publish","format-standard","hentry","category-special-reports","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/316724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=316724"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/316724\/revisions"}],"predecessor-version":[{"id":320509,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/316724\/revisions\/320509"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=316724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=316724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=316724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}