The Reserve Bank of India announced on the 7th that it has decided to raise the repurchase rate, which is the benchmark interest rate, by 25 basis points to 5.50%. This is the first time that the Bank of India has raised interest rates since February 2023. Bank of India Governor Sanjay Malhotra said that the current inflationary pressure is intensifying, and interest rates will continue to be raised or kept unchanged in the future according to changes in the economic situation. According to a report in India's “Economic Times”, interest rates on loans such as housing loans, personal loans, and car loans are expected to rise after this rate hike.
Zhitongcaijing · 2d ago
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The Reserve Bank of India announced on the 7th that it has decided to raise the repurchase rate, which is the benchmark interest rate, by 25 basis points to 5.50%. This is the first time that the Bank of India has raised interest rates since February 2023. Bank of India Governor Sanjay Malhotra said that the current inflationary pressure is intensifying, and interest rates will continue to be raised or kept unchanged in the future according to changes in the economic situation. According to a report in India's “Economic Times”, interest rates on loans such as housing loans, personal loans, and car loans are expected to rise after this rate hike.
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