South Africa’s economy may expand 3.7 percent this year and 4 percent in 2011, Old Mutual Investment Group said.

The Reserve Bank will probably keep its benchmark interest rate unchanged at 7 percent for the rest of the year, Rian le Roux, chief economist at Old Mutual, said at a presentation in Johannesburg Tuesday.
The rand “ should have a weaker bias. We think it’s too strong,” le Roux said. The currency of Africa’s biggest economy traded 0.3 percent weaker at 7.4247 against the dollar as of 11:40 a.m. local time.
(Source= Bloomberg)