GEORGE NEWS - George Business Chamber President, dr Dennis Farrell welcomed the South African Reserve Bank’s lowering of the repo rate from 6,25% to 5,25% in an effort to support the economy that is being hard hit by Covid-19.
“We are very happy and trust that further cuts can follow as expectations are that the inflation rate will be falling.”
He said for small businesses that do not have big liabilities it will not make a significant difference.
“It will, however, bring some relief to businesses with high indebtedness. Consumers with home and car loans will experience immediate relief. We are grateful. Every bit helps.”