IFP Welcomes Repo Rate Decision

MEDIA STATEMENT RELEASED BY:
MR HENNIE BEKKER MP
IFP SPOKESPERSON ON ECONOMICS

April 13, 2007

The Inkatha Freedom Party's Spokesperson on Economics, Mr Hennie Bekker MP, has welcomed the decision by the Reserve Bank on Thursday to keep the bank's official repo rate unchanged, at 9 percent.

"The IFP is pleased that the prime interest rate will stay the same for now and we congratulate Reserve Bank governor Tito Mboweni for making the right decision," said Mr Bekker.

"Keeping the repo rate unchanged is good for economic growth and we do not believe that hiking the rate is the best solution for curbing household debt.

In conclusion Mr Hennie Bekker said: "The current healthy economic and employment growth is extremely encouraging."


FOR FURTHER INFORMATION CONTACT:
Mr Hennie Bekker MP: 083 255 4520
Liezl van der Merwe: 083 611 7470