Reserve Bank urged not to hike repo rate
Labour union Solidarity is urging the Reserve Bank to not
hike interest rates.
The central bank's Monetary Policy Committee's been meeting to discuss what it should do with the repo rate.
An announcement will be made this afternoon.
READ: Rising cost of food will impact the poor, warns economist
But expectations are that we could see an increase of 25 basis points - in an attempt to slow inflation - which would push the repo rate up to 4.5%.
Solidarity believes lifting rates at this point would be irresponsible.
Economics researcher Theuns du Buisson feels a hike would hamper investment in the economy - keeping the country poorer for longer.
And he says consumers are facing the perfect storm with rising fuel and food prices negatively affecting individual budgets.
