Cosatu says rate hike will put further pressure on struggling workers [SOUND]

# Union federation Cosatu has hit out at the South African Reserve Bank’s decision to raise the repo rate by 25 basis points to 7.25-percent, calling it deeply disappointing and untimely. The federation argues the hike will make home loans and other debt more expensive for struggling workers already facing higher fuel, transport and electricity costs. Cosatu’s Matthew Parks says the current inflation spike is driven entirely by the geopolitical crisis, not domestic demand: