UASA welcomes the South African Reserve Bank’s (SARB) Monetary Policy Committee decision to lower the repo rate by 25 basis points to 6.5%.
50 basis points would have been the better option, but we hope that another reduction of 25 basis points will follow later this year.
The announcement is good news for workers forced to tighten their belts to the limit as relentless price increases eat away at what is left of their hard-earned disposable income. Workers have borne the brunt of these increases and are overburdened in an ailing economy and the relief of a lower interest rate is well deserved.
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