FirstRand Turns More Bullish on South Africa’s Economy, Rand
FirstRand Ltd. has turned more bullish on South Africa’s economy, and now sees a greater chance of economic growth accelerating to 2% and the rand strengthening to below 16 per dollar next year.
South Africa’s largest lender by market value lifted the probability of its bull-case scenario unfolding to 25%, from 20%, in a report published Monday by its investment-banking unit RMB. The bear-case probability was reduced to 25%, from 30%.