Home loan interest rates will decrease..? RBI meeting starts today..!!

Sowmiya Sriram
Home loan interest rates will decrease..? RBI meeting starts today..!!
The two-day monetary policy meeting chaired by reserve bank of india Governor Shaktikanta Das is scheduled to begin today. The results of the first MPC meeting of the fiscal year 2024-25 will be out on friday (April 5). The two-day monetary policy meeting chaired by reserve bank of india Governor Shaktikanta Das will begin today. The results of the first MPC meeting of the fiscal year 2024-25 will be out on friday (April 5). The Monetary Policy Committee, which sets the RBI's interest rate, monitors the impact of global challenges, gross domestic product (GDP) growth, and inflation trends on the economy and regulates the country's liquidity.
The six-member Monetary Policy Committee (MPC) chaired by reserve bank of india Governor Shaktikanta Das will make a decision on its repo interest rates after the end of the 2023-24 fiscal. As the 2nd MPC meeting in 2024 is the first meeting of the new fiscal year, the trend of the interest rate and inflation target currently set by the RBI will determine growth this year. Meanwhile, as the general elections approach, the question of what the RBI decision will be is important. While the country's inflation is already below the RBI upper limit, it is expected to plan to bring it to the lower limit in the coming period.
However, economists expect interest rates to remain unchanged at this meeting. According to economists, the RBI will keep its key interest rate, the repo rate, unchanged at 6.50% at the end of the RBI Monetary Policy Committee meeting on april 3-5. It is predicted that this will continue the stance of 'withdrawal of accommodation'. The recent rise in crude oil prices due to geopolitical conflicts and the ongoing trade crisis in the gulf region could directly impact inflation readings. Thus the monetary policy committee is expected to focus on managing the impact of global challenges. Similarly, the world's leading countries like America and europe are planning to reduce their benchmark interest rates from June. The reserve bank of india is also expected to follow the same trend.
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