Cosatu criticises the Central Bank's announcement of a 25 basis points basis hike on Thursday, bringing the repo rate up to 7.25%.
JOHANNESBURG - The Congress of South African Trade Unions on Friday warned of largescale job losses as small businesses face foreclosure following the increase in the repo rate.
Cosatu said there will be dire consequences for the country's lower and middle classes following the latest hike in interest rates.This means consumers will have to set aside a little more money from their disposable income to service their debts.
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