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ANC WELCOMES INTEREST RATE CUT
24 March 2009
The African National Congress welcomes the decision today (24 March 2009) by the Monetary Policy Committee of the South African Reserve Bank to reduce the repo rate by 100 basis points to 9.5%.
This decision is welcome in light of the current economic environment and weakening inflation.
The ANC calls on all South African to continue saving and to manage their debt responsibly. It calls on all social partners to work together to address the new challenges posed by the global financial crisis. South Africa has fared relatively better than many other countries in the midst of the current economic turmoil. This is in large part due to the policies pursued by successive ANC governments and sound financial regulation.
The ANC believes the Reserve Bank is an important institution in the all-round effort to maintain economic stability, accelerate growth and create decent work.
Issued by:
Jessie Duarte
ANC National Spokesperson
African National Congress
54 Sauer Street
Johannesburg, 2001
24 March 2009
Enquiries:
Ishmael Mnisi 082 333 5550
