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The Inkatha Freedom Party (IFP) notes the South African Reserve Bank's decision to once again keep the repo rate unchanged at 7%. The decision provides continuity in monetary policy as the Bank continues to assess domestic and global economic conditions. While the unchanged rate offers a degree of certainty, many South Africans continue to experience financial strain amid the high cost of living, slow economic growth and persistently high unemployment.

The IFP recognises the South African Reserve Bank's constitutional mandate to maintain price stability and safeguard the value of the currency in the interest of balanced and sustainable economic growth. Sound monetary policy remains an important pillar of macroeconomic stability and investor confidence.

However, monetary policy alone cannot resolve South Africa's economic challenges. Sustainable growth requires decisive structural reforms, improved policy certainty, and a regulatory environment that encourages investment, entrepreneurship and job creation.

The IFP believes in reforms that strengthen economic growth, encourage investment, support entrepreneurship, reduce the cost of doing business and create meaningful employment opportunities for all South Africans, while protecting the most vulnerable from the rising cost of living.

Issued by IFP Chief Whip in the National Assembly Nhlanhla Hadebe