As pressure mounts on South African households, all eyes are on the South African Reserve Bank’s
Monetary Policy Committee meeting this week, with growing calls for the repo rate to remain unchanged.
COSATU says workers are already buckling under the rising cost of living, from soaring fuel prices linked to
instability in the Persian Gulf, to higher transport costs and above-inflation electricity tariff hikes. With many
workers drowning in debt, borrowing just to afford basic necessities, and often supporting up to seven
relatives on a single income, the question remains: can South Africans withstand another interest rate
increase?