Chairperson, I move without notice:
That the Council -
1) notes that the South African Reserve Bank cut the interest rate by 50 basis points to 6,0% as a result of the fragile recovery in the country's economy and its vulnerability to an uncertain global environment;
2) takes this opportunity to welcome the interest rate cut and acknowledges that it will help alleviate the economic hardship felt by many of our people; and
3) encourages all South Africans to take advantage of this relief and refrain from fruitless and unnecessary expenditure.
Motion agreed to in accordance with section 65 of the Constitution.