According to Jinshi Data, the Philippine stock index rose more than 1% on Friday. Next week, the Philippine central bank will announce its interest rate decision. Despite strong inflation in the country, analysts expect the central bank to cut interest rates.

Analysts at Standard Chartered Bank said that maintaining tight monetary policy could unnecessarily constrain growth amid slowing growth and tame demand inflation. The Philippine central bank is expected to cut interest rates by 25 basis points on August 15.