All eyes on FOMC meeting

THE Philippine market is likely to struggle for direction this week in search of leads on how the policy-setting Federal Open Market Committee (FOMC) will decide on interest rates when it meets on March 14 to 15.

Though investors and fund managers have discounted Fed Chair Janet Yellen’s previous statements on the likelihood of raising rates sooner than later, online brokerage 2TradeAsia.com said the outcome of the Fed’s meeting will influence global trading, including Philippine shares.