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This afternoon's decision by the South African Reserve Bank to cut the interest rate by 25 basis points to 6.75% shows that the new inflation targeting regime is a welcome reform by the GNU.

Global and domestic investors are more confident in our Government, as we see rising investment levels and new markets unlocked. Notably, the recently tabled Medium-Term Budget Policy Statement sent a strong signal to investors that our country takes growth reforms and getting debt under control seriously.

Much more, however, must be done, as we continue to face an anaemic growth forecast, requiring urgent fast tracking of job creation reforms.

South Africa under the 7th Administration is on the right track, and we must keep moving forward.

Issued by Wendy Alexander MP - DA Deputy Spokesperson on Finance