The recent repo rate cut of 25 basis points announced by the Reserve Bank governor has been welcomed by the Federation of Unions of South Africa (Fedusa). This decision is seen as a positive step in providing relief to workers and households grappling with the high cost of living. Fedusa acknowledged the need for maintaining price stability but emphasized the importance of a more significant rate cut to ease the financial burden on South Africans.
Build One South Africa (Bosa) also praised the rate cut, emphasizing the long-overdue relief it brings to households. Bosa highlighted the need for additional government interventions, such as reducing transport taxes, expanding zero-rated food items, and freezing electricity price hikes.
Both Fedusa and Bosa stressed the importance of prioritizing the needs of ordinary South Africans, especially in the face of rising living costs and unemployment. By putting more focus on creating jobs and addressing financial challenges, these organizations believe that the rate cut is a step in the right direction towards economic stability and household relief.
TimesLIVE