The Reserve bank will announce its final interest rate decision for the year. Mervyn Abrahams from the Pietermaritzburg Economic Justice and Dignity Group spoke with eNCA's Gareth Edwards ahead of the announcement. Courtesy of #DStv403
JOHANNESBURG - The Reserve Bank is expected to announce its final interest rate decision for the year on Thursday.
Some economists expect the rate to remain unchanged, while others predict a 25-basis points increase.
The Pietermaritzburg Economic Justice Group says the rates must be kept unchanged.
"There are very good reasons for why they should keep it [the interest rate] at this rate," the group's Mervyn Abrahams said.
"The rate was historically lowered but that was to do with the COVID-19 that devastated our economy, we all know that our economy has not yet recovered to pre-COVID levels so it is important the Reserve Bank does not make debt servicing more because that could delay economic recovery."