RBI Governor gave such indications regarding loan EMI, read full news

Even though the Reserve Bank of India has kept the repo rate unchanged for the 10th consecutive time, it has changed its stance to neutral. This means that there are indications of a cut in interest rates in December or February. Announcing the decision after the MPC meeting, the RBI Governor said that the stage is completely set for rate cut. After this announcement, the stock market is witnessing a boom. With a gain of 167 points in Nifty, Sensex has crossed 82 thousand points.

Expectation of increase in inflation

RBI has raised inflation estimates for the third quarter. According to the RBI Governor, the inflation rate in the third quarter may be 4.8 percent. Earlier this estimate was kept at 4.7 percent. At the same time, the estimate of inflation rate in the fourth quarter has been reduced to 4.2 percent which was earlier kept at 4.3 percent. The estimate of inflation rate in the first quarter of the next financial year has been reduced to 4.3 percent. Which was earlier reduced to 4.4 percent. There is no change in the inflation rate estimate for the current year, which is 4.5 percent.

5 out of six members of RBI MPC have decided not to change the interest rates. No change in repo rate after February-2023. Earlier, RBI had increased the repo rate by 2.50 percent from May 2022 to February 2023. After which the repo rate came down to 6.5 percent. Which has happened so far at a level where it was expected that the RBI would also change its policy regarding interest rate cuts from the European Central Bank and the Federal Reserve. But this was not seen.

People expected more cuts from RBI

The people of the country were expecting a cut in the repo rate from RBI. Because, in July and August the inflation figure had come down to below four percent. In such a situation, people were expecting more benefits from RBI. Due to this, inflation figures have come under control. In such a situation, RBI can cut the interest rate this time. But this was not seen. According to the information, RBI will not cut the repo rate in the financial year.