After staying in negative territory most of the week, the local stock market managed to bounce back before trading paused for the weekend, buoyed by the announcement by the Monetary Board on Thursday that it would keep benchmark interest rates steady.

Lexter Azurin, research analyst at Unicapital Securities Inc., indicated that since investors had been anticipating the announcement of the Bangko Sentral ng Pilipinas (BSP) on interest rates any announcement would have a significant effect on the market.

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