FINANCE
What RBI's 'wait and watch' approach means for you
RBI is likely to keep interest rates on hold due to global uncertainty, as per Bank of America and SBI Research.
The prediction was made after evaluating RBI's minutes from its meeting in early June where it decided to keep the repo rate unchanged at 5.25%.
RBI's cautious approach comes amidst global uncertianty, rising inflation and a weak monsoon.
What's in it for you?
- •If RBI keeps repo rate unchanged, it means interest rates on loans from banks will also remain unchanged.
- •This means EMIs on home loans, study loans and personal loans will not go up, at least as of now.
- •But this also means that banks may not raise FD rates as well, so your savings may not earn more.
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