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Overseas news
US President Donald Trump dismissed reports that Iran had suspended negotiations. He said he hadn’t heard such news despite Tehran’s claims that indirect talks were halted after renewed strikes.
Iran’s state media earlier reported that peace talks with Washington were suspended after renewed strikes, raising doubts about diplomatic progress.
Meanwhile, major US stock indices closed higher on Monday as investors tracked US-Iran peace talks and developments in the artificial intelligence (AI) space.
Sentiment was boosted by the launch of Nvidia’s new chip that would bring AI to personal computers.
AI-powered innovations have fueled much growth for US stock markets and so AI-related news tend to affect the performance of the larger technology sector and even the overall indices.
Local developments
The Bangko Sentral ng Pilipinas (BSP) signaled it may adopt stronger monetary measures if high inflation expectations persist.
The BSP pledged to take all necessary action to nudge price growth back to its 3% target as it expects May inflation to fall within the 7.1% to 7.9% range.
Central banks usually raise interest rates or keep them high to help tame inflation.
Changes in the key rate have direct and indirect effects on various investments, including bonds and stocks, and so they’re of interest to many investors.
If imposed, a rate hike could affect local markets, though big changes might not happen right away. For now, you can choose to maintain your strategy as you wait for further developments.
