Saftu says SARB’s interest rate hike decision is economically reckless [SOUND]

# The South African Federation of Trade Unions says the Reserve Bank’s Monetary Policy Committee decision to increase interest rates by 25 basis points, taking it to seven-percent from 6.75-percent, is economically reckless and socially destructive. The prime lending rate is now 10.5-percent. Saftu’s Asive Dyani says the rate hike decision is completely detached from the lived reality of millions of workers and poor people, who are already drowning under the weight of unemployment, debt, hunger and rising costs of living: