The trade union UASA is delighted about the Reserve Bank’s monetary policy committee to cut interest rates with 0,5%.
This was an unexpected move, but will bring much needed relief to the South African workers and consumers.
While this is good news for the average South African, we agree with the governor of the SARB, Ms. Gill Marcus, that our economy is weakening and not enough jobs are created. UASA understands that this is a move to keep our economy going and hopefully give it the boost it needs. We agree that business, labour and government must stand together to strengthen the economy and work together to overcome these turbulent economic times for the good of all South Africans.