Home loans may get costlier after RBI rate hike, second in 3 months
Home loans may get costlier after RBI rate hike, second in 3 months the Reserve Bank of India (RBI) hiked the repo rate yet again in its bi-monthly monetary policy review, here on Wednesday. The central bank hiked interest rates by 25 basis points to 6.5 per cent, in the second such hike in three months leading to a major affect on the EMIs of housing and automobile loans for consumers. The central bank maintained its neutral monetary policy stance with the objective of containing inflation at 4 per cent within a band of 2 per cent. The RBI said the inflation outlook is likely to be shaped by the minimum support prices (MSPs), which have been raised sharply, elevated crude oil prices, and reduced Goods and Services Tax (GST) rates on several goods and services. It projected inflation at 4.8 per cent in the second half of 2018-19. -PTC News
