Cosatu welcomes the repo rate cut by the Reserve Bank [SOUND]

# Cosatu has welcomed the 25 basis points cut to the repo rate by the South African Reserve Bank’s Monetary Policy Committee. This brings the repo rate down to 7.25-percent and the prime lending rate to 10.75-percent. Cosatu’s Matthew Parks says whilst they had hoped for a more aggressive rate cut of at least 50 basis points, this will nonetheless provide valuable relief for millions of highly indebted workers: