GOOD statement by Brett Herron,
GOOD Secretary-General & Member of the Western Cape Provincial Parliament
19 September 2024
The GOOD party welcomes the SA Reserve Bank’s (SARB) interest rate cut of 0.25% announced today.
South Africans, who are deeply indebted, have experienced years of increased and high interest rates and this first cut, in about 4 years, will bring some relief to consumers struggling with high debt levels and high interest rates.
The market conditions appear to have been present for the SARB to have made a bolder move today – and to have cut rates by at least 0,5% – bringing greater relief to struggling South Africans.
Nevertheless, the moderate interest rate reduction is welcomed and we remain hopeful that the enabling economic indicators will prevail and that there will be a further reduction in interest rates in November – just in time for the festive season.
Media enquiries
Brett Herron, GOOD: Secretary-General & Member of the Western Cape Provincial Parliament
Cell: 0825183264
Email: bretth@forgood.org.za
Janke Tolmay, GOOD: Media Manager
Cell: 0733671223
Email: janke@forgood.org.za