South Africas central bank (South African Reserve Bank- SARB) increased interest rates today by 5.75%, from 5.5% previously, right in the midst of continued labour unrests (strikes) and anticipated economic recession. The move by Gill Marcus clearly exposes the ineffective ANC economic and labour policies as they fail to salvage the slowing growth and high inflation. Just when you still need some Economics 101 explanations, the petrol price is yet to hike again by 2,5% after rising with 29c last month (June). Welcome to South Africa!
Posted on: Thu, 17 Jul 2014 16:14:55 +0000
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