GOOD Statement by Brett Herron,
GOOD Secretary-General
23 April 2025
The GOOD Party welcomes the announcement by Statistics South Africa that annual consumer price inflation has eased to 2.7% in March, down from 3.2% in February. This is now below the mid-point of the South African Reserve Bank’s target range of 3-6%, offering a glimmer of hope amid ongoing economic strain.
In light of this development, GOOD calls on the Monetary Policy Committee of the South African Reserve Bank to consider a reduction in the Repo rate. South African consumers, particularly those burdened by debt, urgently need relief.
Our economy has endured over a decade of underperformance. Ordinary South Africans continue to face increasingly difficult financial decisions, and if the looming 0.5 percentage point VAT hike is not resolved, this will deepen the cost-of-living crisis.
A bold and substantial interest rate cut would offer immediate support to consumers and stimulate much-needed economic activity. This is a moment for decisive action in the interest of the people.
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