RBI monetary policy: Your home-loan EMIs won’t increase
- Retail borrowers have been under tremendous pressure lately, with home-loan interest rates rising from 6.5% to 7% in April 2022 to around 9% to 9.5% now
In its latest monetary policy announcement, the Reserve Bank of India (RBI) decided to keep the repo rate — the rate at which it lends to commercial banks — unchanged at 6.5%. This move was expected, with most economists polled before the policy forecasting this. What does it mean? Mint decodes the development.