Guiding consumers since 2009

Union calls for cuts

By Staff Writer

The National Union of Metalworkers of South Africa (NUMSA) is in dispute with The Guv, Tito Mboweni. NUMSA is angry with The Guv, because he did not meet them to get a memorandum. Apparently it had been agreed that The Guv would come get the memo, but then declined to when NUMSA showed up at the Reserve Bank last week Thursday 28th May 2009. NUMSA is calling for interest rate cuts. If the interest rate is cut what would it mean for you?

 

 

NUMSA is calling for these interest rate cuts because they are opposed to the policy of inflation targeting. The ANC has responded by saying that NUMSA marching was 'not helpful'. NUMSA wants to continue to march against the Reserve Bank calling for more aggressive interest rate cuts. They are not alone in their calls, however it is interesting to see folks on both the left and the right of economics calling for the same thing. Folks with massive mortgages who are over extended on their debt are also calling for more aggressive rate cutting, along with a workers union.


The NUMSA mini national congress that was held from the 11th to the 14th of May 2009 resolved to push for radical changes to South Africa's macro-economic framework. There were worries before the election that there would be a leftist shift in government policy, but it seems that it is business as usual for the new government. NUMSA however said that their next fight would be to bring down banking charges and lending rates, both of which will have a more real impact on putting more money in the pockets of the public than aggressive interest rate slashing which will tend to favour those who own homes rather than the marching masses.

 

Recent Articles

Featured New homeowner? Be aware of these extra expenses

You’ve overcome all the hurdles of buying a home. You’ve managed to pay your deposit and your closing payments, and now you’re a proud title deed holder. However, there are other expenses waiting around the corner. Are you prepared?

Your biggest credit conundrums – answered

Understanding your credit health is one of the most important factors in managing your finances. This is because it gives you insight into your debt, your borrowing ability, and your financial history. While many understand this, there are still many questions on how to do just that.

Avoid debt collectors, choose debt counselling

There are two things you can do when you are struggling to pay your debt. You can either let your creditors hand your debt over to debt collectors – or you can let debt counsellors help you deal with your debt.

Retail notes: easy investment option for new investors

Being a newbie in the world of investing can be challenging because you don’t know where and how to invest. With so many investment options, you could easily be befuddled. Justmoney looks at how retail notes can help you cut your teeth in the world of investing.   

Deals

Translux Student Discount

Price: Depends on destination
When: Daily
Where: Nationwide

Zimbali Senior Citizens Discount

Price: From R1342.00
When: Until 14 December 2019
Where: KwaZulu Natal

Free meal for kids at Mozambik Restaurant

Price: Free
When: Until 15 November 2019
Where: Johannesburg, Durban, Pretoria