Friday, March 30, 2012
Interest rate will remain unchanged
Andiswa Mkosi
30 March 2012
The South African Reserve Bank announced yesterday that interest rates will remain unchanged for the foreseeable future. The repo rate stands at 5.5%
This is the lowest level in more than 30 years.
The Federation of Unions of South Africa says they are very disappointed with the lack of change.
Krister Janse van Rensburg of FEDUSA calls it a missed opportunity to cut interest rates to motivate consumer spending and economic growth.
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