IFP says monetary policy alone cannot resolve South Africa’s economic challenges [SOUND]

# The IFP says while the South African Reserve Bank’s Monetary Policy Committee has kept the repo rate unchanged, many citizens continue to experience financial strain amid the high cost of living, slow economic growth and persistently high unemployment. The repo rate remains at seven-percent while the prime lending rate stays at 10.50-percent. The IFP’s Nhlanhla Hadebe says the decision provides continuity in monetary policy; however, this alone cannot resolve the country’s economic challenges: