Giwusa says the Reserve Bank is protecting bankers’ profits while workers drown in debt [SOUND]

# The general industries union, Giwusa, says the South African Reserve Bank’s decision to keep the repo rate at seven-percent is a deliberate attack on the working class and poor. The union says the prime lending rate of 10.5-percent benefits banks while worsening the cost-of-living crisis, with staple food, electricity, and fuel prices soaring. Giwusa president Mametlwe Sebei calls for immediate interest rate cuts, price controls on essentials, nationalisation of major banks, and a mass public works programme: