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Statement: Interest Rate Hike An Assault On The Poor!

Yesterday, the South African Reserve Bank made the outrageous decision to raise the repo rate by 50 basis points, up to 7.75%, marking the ninth consecutive increase since November 2021. This is a deeply regressive decision. It will further pull

Posted in AIDC Tagged with: , , , ,

AIDC Statement: Interest rates hike to push SA towards recession!

The South African Reserve Bank (SARB) has hiked the interest rate by another 75 basis points. The repo rate will now increase to 6.25%, and the prime rate to 9.75%, from 9%. This is like pulling the handbrake on the

Posted in Press Releases Tagged with: , , , ,