SAFTU says the country’s greatest crisis is not inflation but unemployment [SOUND]

# The South African Federation of Trade Unions has reiterated its call for the abandonment of inflation targeting in favour of a developmental monetary policy with the primary objectives of employment, industrialisation, productive investment and sustainable economic growth. This follows the Reserve Bank’s Monetary Policy Committee’s decision to raise interest rates by 25 basis points to 7.25-percent and the prime lending rate to 10.75-percent. This was done to control inflation. SAFTU’s Asive Dyani says the country’s greatest crisis is not inflation; it is unemployment: