Numsa to meet Mboweni

Johannesburg - The National Union of Metalworkers of SA (Numsa) will meet the SA Reserve Bank on Thursday to discuss inflation targeting, the union said on Monday.

Thursday's meeting would be one of several to discuss interest rates and inflation targeting, Numsa spokesman Alex Mashilo said in a statement.

A meeting was originally scheduled for Monday but was called off after SARB Governor Tito Mboweni was called away to Cape Town.

Mashilo said Mboweni would be at Thursday's meeting.

"It is the bank's preference that the governor will be there," said Mashilo.

Inflation targeting and interest rates had long been an issue for unions. The issue came to a head after a May 27 demonstration in which Numsa protested outside the SARB.

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