Your home or car loan may get costlier in the coming days. Experts say that the Reserve Bank of India may further increase the repo rate by 25 basis points in the bi-monthly monetary policy to be held on 6 April.
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Your home or car loan may get costlier in the coming days. In fact, according to the report of PTI, experts say that the Reserve Bank of India may further increase the repo rate by 25 basis points in the bi-monthly monetary policy to be held on 6 April. Behind this, he has told the reason for inflation to remain above the prescribed level of 6 percent and the aggressive stance of the US Fed.
The meeting of the Monetary Policy Committee of the Reserve Bank is going to be held on three days, 3, 5 and 6 April. Will consider different domestic and global factors before bringing the first bi-monthly monetary policy for the financial year 2023-24.
The two things that the committee will discuss in detail while formulating the next monetary policy include increased retail inflation and recent decisions taken by central banks of developed countries, especially the US Federal Reserve, the European Central Bank and the Bank of England.
The Reserve Bank of India i.e. RBI is increasing the benchmark rates from May 2022. The objective behind this has been to bring inflation under control, which has been mainly influenced by external factors. Especially after the outbreak of the Russia-Ukraine war, the global supply chain has been affected.
This story is being updated…
