Saftu urges SARB’s Monetary Policy Committee not to hike interest rates [SOUND]

# Union federation Saftu urges the South African Reserve Bank’s Monetary Policy Committee not to respond to the five-percent increase in annual inflation by hiking the repo rate. The central bank raised the repo rate by 25 basis points to seven-percent in May following February’s oil price shock. Saftu’s Asive Dyani says the country is not obliged to follow a narrow monetary policy orthodoxy that places inflation above every other developmental objective: