As Reserve Bank eyes inflation, jobs suffer - The Mail & Guardian

The central bank has been criticised for hiking interest rates to the detriment of employment

2021-11-28 01:00:00 AM

As Reserve Bank eyes inflation, jobs suffer: The central bank has been criticised for hiking interest rates to the detriment of employment

The central bank has been criticised for hiking interest rates to the detriment of employment

for the first time in three years, sparking criticism that the move will throw cold water on the country’s already glacial economic growth.The 25 basis point hike — announced last week amid mounting inflation risks — comes ahead of another important event on the domestic calendar: the release of the country’s jobs data, which for each quarter since the advent of the Covid-19 pandemic has indicated

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record levels of unemployment.Critics of the Reserve Bank’s inflation-targeting mandate have pointed out that the interest rate hike may only add to the country’s unemployment woes. Others argue that keeping interest rates at a record low would jeopardise price stability, hurting the poor.

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Job creation is definitely their mandate. Even if it was not surely any properly thinking south African will prioritize jobs over anything. People are desperate out there. 25 basis point might be small but the message it carries is devastating , worse inflation is within band 25 basis points is very conservative. Stop with the hysteria already.

It's the Reserve Bank's mandate to protect the currency. Job creation is NOT their responsibility. Can someone bright show me the correlation between administrative costs and interest rate? The little activity we see cannot be choked because people insist on narrow thinking... The SAReserveBank needs as per mandate in the Central Bank help the state with the JobsGuaranteeProgramme and take cue from the sound advice BuddyWells1 has been offering probing up to now on how it can discharge its responsibility to SAns. MichaboSustain1 add ur advices too

The reserve bank has been telling the ANC government to get its shit in order since the beginning of the pandemic, don’t blame them🤷🏼‍♀️🤷🏼‍♀️🤷🏼‍♀️

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‘Explosive’ jobs crisis imperils South Africa - The Mail & Guardian‘Explosive’ jobs crisis imperils South Africa: Experts’ strategies for fixing the unemployment crisis range from devaluing the rand to a universal income grant or accepting debt from loans It is the deliberate act by the ANC to replace the south africans with the foreigners Mbeki,Zuma and Ramaphosa as equally guilty of the poverty in south Africa while they living lavish lives with their pampered kids like Dudu and duduzile Zuma

‘Explosive’ jobs crisis imperils South Africa - The Mail & Guardian‘Explosive’ jobs crisis imperils South Africa - Experts’ strategies for fixing the unemployment crisis range from devaluing the rand to a universal income grant or accepting debt from loans No Bhekisisa_MG RSA needs to ditch the neoliberal economic outlook and engage mmt_SouthAfrica for alternative econs. JobsGuaranteeProgramme is the means to address UPI. redgenkosi rragomoditi MichaboSustain1 DumaGqubule ptcherneva CheeseMacro sdgrumbine qbwarmdays Who are these experts?

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