Bringing the interest rate to 13%.
However a 13% interest rate is ridiculous, and it should be cut even further to try stop the deepening recession taking hold of the SA Economy.
The longer the Reserve Bank delays this process, the greater the growth sacrifice and the wider the output gap will become, accompanied by employment losses.
The Reserve Bank thinks it knows best as it holds the entire economy at ransom, even making sarcastic remarks to the public in their statement.
