Reserve Bank Governor Tito Mboweni is asking the country to prepare for 'drastic' interest measures.

Bruce Whitfield:
Stephen Grootes listening to the Reserve Bank Governor, hello Stephen.

Stephen Grootes:
Hello Bruce good evening. Well the Reserve Bank Governor here, Tito Mboweni, talking about CPIX Bruce of course coming in at 10.4 percent for the month of April, he says and I quote ‘you don't have to be a genius to work out that interest rates have to tighten’, he says, ‘clearly drastic measures are required’ and he stopped at that point and he says, ‘I have spoken to my experts and they have told me to use the word drastic’. Interest rates are going to go up and it doesn't look like 50-basis-points either does it?

Bruce Whitfield:
Stephen Grootes, thanks very much indeed. I wish I didn't have to listen to that on a Wednesday evening. That is Stephen Grootes bringing us the very latest from Tito Mboweni's speech tonight.