Market experts have reacted to the RBI repo rate revision. Samantak Das, Chief Economist, and Head – Research and REIS, India, JLL . "RBI's announcement of an increase in the policy rate by 50 basis points (bps) – the second consecutive hike – is along expected lines in the backdrop of persistent inflation, global headwinds, and macroeconomic situation. The prolonged rise in inflation which touched 7.8% in April 2022 has been due to supply chain disruptions created by the global geopolitical situation. RBI has been decisive in its intent to mitigate the impact of inflation on economic growth by increasing the policy rates and gradual withdrawal of liquidity. The rise in policy rate is expected to act more as a sentiment disruptor for the home buyers given that mortgage rates are likely to inch up. However, the impact of the rate hike on home loan EMIs is unlikely to be significant as these loans are for a longer tenure. Banks and housing finance companies have only partially transmitted the previous policy rate hike. Also, interest rates are still likely to remain at decadal lows and hence, while the opportunity for homebuyers is reducing, it is critical to understand that affordability… Read full this story
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