Fixed deposit investors should be prepared for a downward trend in interest rates. The 10-year government bond yield has already fallen and is expected to continue decreasing. Whenever interest rate starts falling, the short to medium-term FD rates will be affected first, so investors should consider booking their FDs soon.
RBI MPC announcements today: A 0.5% drop in your home loan interest rate can save you Rs 3.83 lakh if the interest rate on your Rs 50-lakh loan for 20 years comes down from 9% to 8.5%. This will give much needed relief to old home loan borrowers who have seen their interest rate rise sharply within the last 3 years.
The head of the International Monetary Fund has warned that the rapid advance of artificial intelligence will affect nearly 40 percent of jobs around the world. IMF Managing Director Kristalina Georgieva pointed out the negative impact of the latest software technology on global labor market, based on a study, in a blog post.