(Bloomberg) -- The Philippine peso rose for a third
day, climbing to a six-week high, on speculation investors will
buy more of the nation's stocks after the central bank cut its
key interest rate last week.
``What the central bank has effectively done is to cut the
funding costs of companies,'' said Jonathan Ravelas, assistant
vice president for economic research at Banco de Oro-EPCI in
Manila. ``It encourages more business activities, which may spur
earnings.''
Read more at Bloomberg Currencies News
day, climbing to a six-week high, on speculation investors will
buy more of the nation's stocks after the central bank cut its
key interest rate last week.
``What the central bank has effectively done is to cut the
funding costs of companies,'' said Jonathan Ravelas, assistant
vice president for economic research at Banco de Oro-EPCI in
Manila. ``It encourages more business activities, which may spur
earnings.''
Read more at Bloomberg Currencies News
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