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Government has already welcomed the reduction of the repo rate.

This after the South African Reserve Bank announced the repo rate cut last week.But Parliamentarians seem to differ on 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% base points to 25% per annum. 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.”

“The IFP welcomes the significant reduction in the repo rate as it has been cut by 25 basis points to 8%. This means the people of South Africa will finally be able to experience the economic relief. However, we celebrate with caution as we know how unpredictable the global financial market can be.”

 

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