FOSA slams rate hike as economic punishment for already struggling South Africans [SOUND]

# The Forum for South Africa says the decision by the South African Reserve Bank’s Monetary Policy Committee to increase the repo rate by 25 basis points is an economic punishment for the poor and working class. The repo rate is now at seven-percent, while the prime lending rate increases from 10.25-percent to 10.5-percent. FOSA leader, Tebogo Mashilompane, says they reject the notion that squeezing consumers is a solution, while the real drivers of economic collapse remain untouched: