RBI maintained its repo rate at 6.50%, but with a hawkish policy stance on withdrawal to accommodation . Real estate experts welcomed the decision, saying that as long as the repo rate is not increased, home loan interest rates will remain steady, providing relief for borrowers.
RBI is set to declare its second bi-monthly monetary policy decision of FY24 on June 8th, with bets favouring a second pause in repo rate. Despite inflation staying below RBI s upper tolerance limit, the possibility of a rate hike is not ruled out.