SA Reserve Bank Fails To Act Once Again

The SARB disapointed many economists and SA citizens by failing to drop interest rates today. There was an expectation that the SARB would take aggressive action by cutting the repo rate by at least 0,5 basis points. Especially as so many jobs are on the line, during the first quater '09 it estimated that the reccission cost over 180 000 jobs alone. Unions have also preasured the goverment to cut interest rates but this seems to have fallen on deaf ears.