Cosatu accuses Reserve Bank of ignoring the poor
By Lelethu Mquqo
23 September 2011
Cosatu has slammed the Reserve Bank’s decision to keep interest rates unchanged as being out of synch with government’s commitment to make 2011 the year of job creation.
The union federation says many conservative governments around the world are slashing interest rates to save jobs.
It adds that the decision will make South African exports uncompetitive.
Cosatu accuses the central bank of being indifferent to the plight of the poor who are reeling under the pressure of sky-rocketing food, fuel and electricity prices.