Reserve Bank Criticized For Being Inconsiderate
Written by Mduduzi Phungula on 23 September, 2022
By: Bright Ntuli
The Reserve Bank has been accused of not taking into consideration that inflation is starting to come down.
The bank yesterday, announced that it will increase the repo rate by 75 basis points to 6.25%.
The bank’s governor, Lesetja Kganyago, says inflation, which stands at 7.6%, is still a major concern.
Mervyn Abrahams of the Pietermaritzburg Economic Justice and Dignity Group believes the rate will become a heavy burden on consumers once inflation has gone down further.
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