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Interest rates on select retail loans, excluding home loans, are rising as banks adjust their marginal cost of lending rates (MCLR). While the RBI has kept the repo rate unchanged since February 2023, loans such as auto and personal loans not linked to the repo rate, are affected. SBI and other banks have increased rates, citing increased fund costs and market tightness.
your mortgage rate, however, your car loan rate, your credit card rate, that might go up sooner. it will go up sooner. to quote my friend paul with krn krn money, he said this is the dropping the mike moment. and janet yellen would begin at the first of the year. richard quest, go ahead. in 20 seconds, yes, bernanke took us into this. bernanke has begun taking us out of this, and he leaves jessica yellin a clean sheet with which she can move forward if and when she s concerned. janet yellen. that would be a promotion for one of our colleagues. if i have done that once, i should get a dollar for every time i make that mistake. janet yellen. you stayed up late hoping and wishing your mega millions tickets would win. thank you very much. let s move along here because we have more news on what we just reported just a
$4 trillion off that debt we get downgraded which is a very serious thing. you lose your financial reputation, all kinds of people suffer because of that. not individuals so much. i don t think it s going to happen to your mortgage rate or car loan rate but 7,000 cities and towns across america depend upon uncle sam to have a triple a rating. if it gets downgraded, they suffer. big deal. what about you mentioned, you know, real estate, all that. but what about our 401k s? well, today, you are likely to see your 401k go down in value because of all this uncertainty about a downgrade. we re looking at the market, the stock market likely to be showing a heavy loss at the opening bell just as it has done in recent days. one of the co-chairs of the deficit commission came forward and said $2 trillion means nothing. you have to double it. i understand that. but it wasn t if the president had his way, there wouldn t be a debate about this. this is something that would be voted on. the