What happened last week:
The government reduced its projection for the 2021 gross domestic product (GDP) from 6.5% - 7.5% to 6.0% - 7.0%, indicating a slight reduction in economic growth expectations.
The Bangko Sentral ng Pilipinas, on the other hand, lowered its inflation outlook to 3.9% for the year, from the previous 4.2% estimate – a sigh of relief that price increases of goods are viewed to be temporary.
In the stock market, the Philippine Stock Exchange Index (PSEi) dropped below the 6,200 mark on Friday, losing about 1.11% for the week as investors remain cautious.
What you can do:
Hold on to your bonds and equities, if you have them. These are likely to keep their value intact now and give better returns in the future.
While waiting for bond and equity prices to stabilize, you can choose to grow your money by putting it in the Metro Money Market Fund.