|Bid||54.01 x 100|
|Day's Range||60.89 - 61.19|
|52 Week Range||48.11 - 62.30|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.64%|
The iShares MSCI South Africa exchange-traded fund (EZA) has had a good week, up 2.4%, after the central bank delivered its first interest rate cut since 2012. South Africa's central bank cut the country's policy rate 25 basis points to 6.75%, and also aggressively reduced growth estimates. Gross domestic product is now projected at 0.5% this year, down from 1%, versus 0.3% in 2016.
With a slight move lower in consumer price data released Wednesday, the South African Reserve Bank (SARB) is likely to reduce its policy interest rate Thursday, Societe Generale says. SocGen Analyst Phoenix Kalen writes: " ... the reserve bank's prudently hawkish rhetoric [has been] espoused over many previous rate-setting meetings. Importantly, we believe that the SARB will likely revise lower its average headline and core inflation forecasts for this year and next year.
Emerging markets can continue to outpace developed markets in the growth department, but a pause could come this year, according to Goldman Sachs. Emerging market stocks were moving lower Monday morning after ...