Today your loan EMI will increase or decrease, RBI will announce the decision

Reserve Bank Of India: If you are troubled by expensive loans and you have a loan running on you, then this news can prove to be important for you. Actually, today Reserve Bank of India (RBI) Governor Shaktikanta Das is to announce a decision regarding the repo rate, which will decide whether your loan EMI will increase or decrease. This decision will be taken after the Monetary Policy Committee (MPC) meeting going on for the last three days, and the whole country is eyeing its result.

Current situation

Currently, the repo rate is 6.5%. Recently, after the change in rates by the US Federal Reserve, expectations of reduction in rates have also increased in India. Experts' opinion is divided in this matter. On the one hand, rising inflation remains a matter of concern for the RBI, while on the other hand some experts believe that if inflation is under control, there may be a possibility of reduction in interest rates.

Long-term stability in interest rates

In the last nine meetings of the RBI, it has been decided to keep interest rates stable. The last time the repo rate was changed was in February 2023, since then it has remained stable at 6.50%. Meanwhile, it has a direct impact on the rates of home loans, auto loans and other loans, and all eyes are on the possibility of a change in these rates with today's decision.

Economic conditions and challenges

Amid the current signs of the Indian economy, some concerns also remain. Keeping in mind the global economic slowdown, trade tensions between the US and China, and the uncertainty created by the US election, it will be important to see what kind of policy the RBI adopts. Experts say that rising inflation is still a big issue in the country, so at the moment there is little chance of any major change in the repo rate. However, some experts believe that by December 2024, if inflation falls, a softening of interest rates can be expected.

Future prospects

Even if the repo rate is not changed in today's meeting, there will still be a possibility that the RBI may cut interest rates in the coming months, especially during the December quarter. This step can be taken with the aim of reducing inflation and promoting economic stability. This can be expected to reduce interest rates on home loans and other loans, which can provide relief to borrowers.