IMATU welcomes low interest rates

The Independent Municipal and Allied Trade Union (IMATU) welcomes the decision of the Governor of the South African Reserve Bank (SARB), Gill Marcus, to keep the repo rate unchanged at 5.0%.

“While a rate cut would have been preferable, we are nevertheless pleased with an unchanged repo rate. Our members have faced steep increases in administered prices such as petrol, water, public transport and electricity and our Gauteng members found out yesterday that e-toll tariffs will being on 3 December 2013. Increased interest rates would put excessive and unaffordable pressure on workers,” explained IMATU General Secretary, Johan Koen.