Cosatu urges SARB to cut the repo rate to provide breathing space to workers [SOUND]

# Cosatu is urging the South African Reserve Bank to cut the repo rate to provide breathing space to millions of workers battling to cope with the rising costs of living. Following the start of the local rate-cutting cycle in September 2024, the Reserve Bank has cut rates by a cumulative 125 basis points, reducing the repo rate from 8.25-percent before the cycle to 7-percent. Cosatu’s Matthew Parks says the MPC must slash the repo rate by at least 50 basis points: