Debt will be more cheaper or stable! RBI Governor will announce policy interest rates tomorrow
Whether to take a loan and cheaper, it will be known tomorrow i.e. on Wednesday. Reserve Bank of India (RBI) Governor Sanjay Malhotra will announce the third bilateral monetary policy (Monetary Policy) of the current financial year at 10 am on Wednesday. According to PTI news, it is estimated that there will probably be no change in interest rates this time after a total cut of 100 basis points in three consecutive times. Let us tell you, the three -day meeting of the Monetary Policy Committee (MPC) has started from Monday. The six -member committee takes a decision on policy rates under the chairmanship of Governor Sanjay Malhotra.
What is opinion of economists and experts
Financial services expert Vivek Iyer (partner, Grant Thornton India) believes that there will be no rate cut this time. He said that the external environment is still unstable and uncertain, and the impact of previous cuttings need time to look completely. Iyer also said that 25% tariffs on Indian imports by the US have been taken into consideration in the earlier rate deduction, so it will not affect the current decision.
REA India CEO Praveen Sharma said that the central bank has already cut 100 basis points (1 percent) this year, so this time the status quo can be maintained.
Sharma said that today’s buyers are buying houses on a longer period than the fluctuations of short-term interest rates. Developers are also providing flexible payment plans and smart discounts to attract customers.
Current Status and Background
The government has given the RBI the responsibility of keeping the retail inflation (CPI) within 4% (+/- 2%). In February, April and June, RBI had cut 25, 25 and 50 basis points respectively due to softening of retail inflation. Let me tell you, retail inflation remains below 4% since February, but the US can wait for more data this time before a new rate cut in view of the announcement of the US to implement tariffs on Indian goods from August 7.
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