After the three-day monetary policy committee (MPC) meeting that concluded earlier today, the Reserve Bank of India (RBI) Governor Shaktikanta Das announced a 35 basis point hike in the repo rate taking the overall rate hike to 6.25 per cent.
RBI MPC meet 2022: The MPC is expected to hike the policy rate from 5.90 per cent currently as inflation is above the central bank’s tolerance band, 2-6 per cent.
‘A comparatively lower impact on mortgage rates will also be helpful in supporting homebuyer demand as the year draws to a close,’ said Shishir Baijal, Chairman and Managing Director, Knight Frank India