A TOP Cosatu official said yesterday the union federation was “very, very angry” that the Monetary Policy Committee had decided not to drop the repo rate.

General secretary Zwelinzima Vavi said: “We‘ve seen thousands of jobs disappearing between January and March only, thanks to them (Reserve Bank officials) and their conservatism.

“The Reserve Bank doesn‘t care a damn about what happens to the economy (and) job creation.”

Cosatu says it represents up to 1,9 million members.

Meanwhile, trade union Solidarity said that keeping rates on hold “will only prolong the recession already plaguing the country”. – Sapa