A meeting between National Union of Metalworkers of South Africa (Numsa) and the Reserve Bank of South Africa to discuss inflation targeting is scheduled to take place on Thursday morning in Tshwane, the union said.
”The meeting follows two protest demonstrations by the union at the [Reserve Bank] this year in April and May respectively,” said Alex Mashilo, spokesperson for the Numsa.
He said the memorandum given to the Reserve Bank during these protests called for employment to be prioritised and for economic growth to be equitably shared in order to eradicate poverty.
Earlier this week he said the meeting would be one of several to discuss interest rates and inflation targeting.
A meeting was originally scheduled for Monday, but was called off after Reserve Bank Governor Tito Mboweni was called away to Cape Town.
”We are approaching the bilateral meeting [on Thursday] with the Reserve Bank expecting progress,” said Mashilo.
Inflation targeting and interest rates had long been an issue for unions.
Unions said inflation targeting and high interest rates were inhibiting potential economic growth and job creation.
”We are unshaken that if nothing changes a sustained mass strike will ultimately make a difference,” said Mashilo.
”We, however, decided to first give a series of bilateral meetings a chance to make a difference.” — Sapa