💹Public Servants Association condemns Sarb's repo rate increase, calls it a 'cruel' move to deepen citizens financial crisis: publicservansstrike
‘s monetary policy is “continuously failing to address South Africa’s triple challenge of unemployment, poverty and inequality.
The union accused the Reserve Bank of only “serving banks” as aggressive interest-rate increases make the debt more expensive while increasing profits for commercial banks. “Workers are barely coping under economic hardship owing to ever-increasing prices of fuel, electricity, food and public transport coupled with stagnant salaries.”The PSA said municipalities were also affected as workers had to choose between paying for municipal services and buying food for their families.
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