DA Is Concerned About The Increasing Repo Rate

By: Lindelani Mbatha

The Democratic Alliance (DA) says the upward-spiraling cost of living is the direct consequence of the ANC’s incoherent economic policies that get in the way of economic growth.

This comes after the Monetary Policy Committee of the Reserve Bank announced an increase of 75 basis points in the repo rate.

This is the seventh consecutive hike in interest rates and rates are now higher than before the Covid-19 pandemic.

The DA’s Dion George says in inflationary times, fiscal policies are required to soften the impact of rising prices.