Twenty-five basis points interest rate cut draws mixed reactions - SABC News

Political parties say more still needs to be done to stabilize inflation and reduce cost of living.

, they say more still needs to be done to stabilize inflation and reduce the rising cost of living. This after South African Reserve Bank announced the repo rate cut this week.

Government has already welcomed the reduction of the repo rate. But Parliamentarians seem to differ about certain aspects of the announcement. “We reject the decision by the Monetary Policy of the South African Reserve Bank to reduce the repo rate by 25 percent base points. While we welcomed the much-needed relief for the working class and the consumers, the extreme conservatism demonstrated by the Reserve Bank remains a great concern. Our economy is in a deep crisis. Economic growth remains sluggish.

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