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If there is a loan running in your name or you are also waiting for the EMI of the loan to reduce, then this information is important for you. The decision on whether your loan installments will increase or decrease will come in two days. The three-day meeting of the Monetary Policy Committee of the Reserve Bank of India is starting from Monday, October 7 and a decision will be taken on October 9.
After two days, RBI Governor Shaktikanta Das will give information about the repo rate decision. The big question is whether RBI will follow the footsteps of America and cut the repo rate?
According to the information, this time also there is no possibility of reduction in the main interest rate repo in the MPC meeting of RBI. This means that your loan installments will neither increase nor decrease. Experts say retail inflation is still a matter of concern for the RBI and the West Asian crisis may deepen further, which will impact crude oil prices. Experts believe that RBI will not follow the US Federal Reserve. US Fed Has already reduced the rates by 0.5 percent.
interest rate will not change
According to the information, home buyers as well as the real estate industry and developer community are expecting a cut in interest rates. But the central bank will likely keep interest rates unchanged for the 10th consecutive time and leave them unchanged.
As per available details, no change in the repo rate or MPC stance is expected. The reason for this is that the inflation rate will be above five percent in September and October. Moreover, core inflation is rising slowly. Inflation is expected to be lower by 0.1-0.2 per cent and there is no change in the GDP forecast.
When can deductions be made?
According to the data, the repo rate may be reduced by 0.25 percent in December 2024 and February 2025, given that GDP growth in the first quarter is expected to be lower than MPC's estimate and retail inflation is expected to remain soft in the second quarter. Is. quarter. RBI has not made any change in the repo rate from February-2023. RBI has maintained it at 6.5 percent.
