Monetary Policy Review- RBI keeps
repo rate unchanged at 6.5%
Reserve Bank of India's (RBI) decision to keep key lending rates unchanged in its latest monetary policy review on 8th August 2024. This is the first policy update following the national budget. The RBI's move is aimed at balancing inflation control with economic growth. The central bank's decision reflects its cautious approach amid current economic conditions, including inflationary pressures and global uncertainties. The RBI's stance suggests a wait-and-see approach to assess the impact of previous rate changes and broader economic developments. The central bank is monitoring economic indicators and global developments closely to adjust its policy stance if necessary.
The repo rate unchanged at 6.5 per cent by RBI in his latest Monetary
Policy Review (MPR). The Repo Rate, set by the Reserve Bank of India (RBI), is
the interest rate at which banks borrow money from the central bank. When the
RBI changes the Repo Rate, it influences the interest rates that banks charge
their customers, including for home loans. A higher Repo Rate typically leads
to higher home loan rates, making borrowing more expensive, while a lower Repo
Rate usually results in lower home loan rates, making borrowing cheaper.
