Thursday, January 20, 2011

Fedusa calls for interest rate cut

By Lelethu Mquqo
20 January 2010

The Federation of Unions of South Africa has called for a 50 basis points drop in the repo rate.

South African Reserve Bank Governor, Gill Marcus, is expected to make an announcement about the rate later today

Economists say that the rate, which is currently sitting at 5.5%, will not be changed.

Fedusa general secretary, Dennis George, says the Reserve Bank should lower the rate further to stimulate the economy.

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