Wednesday, October 5, 2022

Loan EMIs will rise due to inflation; be aware of how this will directly affect your wallet.

Repo Rate: The RBI is anticipated to raise interest rates in tandem with the US Fed. Its direct impact will be on bank customers who are making loan EMI payments. Home loans, auto loans, and personal loans will become more expensive as a result.

Interest Rates: The retail inflation data for America have also been issued after those for India. Both nations continue to be concerned about inflation. Both countries will experience its effects. The RBI is anticipated to raise interest rates alongside the US Fed. Its direct impact will be on bank customers who are making loan EMI payments. Home loans, auto loans, and personal loans will become more expensive as a result. You will have to make greater EMI payments if you already have a mortgage.

The percentage of retail inflation rise to 7%.

The US stock market as well as the Indian stock market are anticipated to be affected by the US inflation rate, which is now at a record high. The retail inflation rate for the month of August in India, which was announced on September 12, has jumped to 7%. In July, it stood at 6.7 percent. The last three months had shown a decrease in retail inflation. This percentage was 5.3 percent in August of the previous year. On the other hand, CPI numbers were made public on Tuesday in the US. As a result, in August, the monthly CPI (Consumer Price Index) increased by 8.3 percent. The rate of inflation in this area in June was 9.1 percent, which was the highest in 40 years.

It is assumed that the interest rate increase is fixed.

It is anticipated that the UC Fed Reserve will raise interest rates by 0.75 percent based on the most recent US CPI statistics. The Fed will announce the change in interest rates at its meeting on September 21st, which is scheduled to take place next week. This year, the US Fed has declared four interest rate changes. Let us inform you that the central bank of any nation raises interest rates in an effort to curb inflation. The interest rate has gone up three times since May in India as well.

Three times in a row, the policy rate was raised, on the

On the other hand, the Reserve Bank of India (RBI) may raise the repo rate once again in the Monetary Policy Review (MPC) due this month as a result of the rise in inflation. The RBI has been given the mandate by the government to maintain retail inflation at 4% with a tolerance of 2%. On September 28‚Äď30, the Monetary Policy Committee (MPC), which is chaired by the governor of the Reserve Bank, will convene. Three times in a row, the policy rate was hiked by 1.40 percent. ICRA Chief Economist Aditi Nair stated that the increase in food costs is primarily to blame for the monthly increase in retail inflation. In the September 2022 monetary policy review, the MPC is anticipated to rise by 0.5 percent, he said.

Read More: Investment Tips: Senior Citizens Can Get More Than 8% Return By Investing In These 3 RD Schemes! Read full details here

ūüĒ•ūüĒ•¬†Join Our Group For All Information And Update, Also Follow me For Latest InformationūüĒ•ūüĒ•
ūüĒ•¬†YouTube ¬† ¬† ¬† ¬† ¬† ¬† ¬† ¬† ¬†Click Here
ūüĒ•¬†Facebook Page ¬† ¬† ¬† ¬† ¬† ¬† ¬† ¬† ¬†Click Here
ūüĒ•¬†Instagram ¬† ¬† ¬† ¬† ¬† ¬† ¬† ¬† ¬†Click Here
ūüĒ•¬†Telegram Channel¬† ¬† ¬† ¬† ¬† ¬† ¬† ¬† ¬† ¬†Click Here
ūüĒ•¬†Google News ¬† ¬† ¬† ¬† ¬† ¬† ¬† ¬† ¬†Click Here
ūüĒ•¬†Twitter ¬† ¬† ¬† ¬† ¬† ¬† ¬† ¬† ¬†Click Here


Please enter your comment!
Please enter your name here


Most Popular



CNG-PNG Price Hike: CNG 6 is instantly more expensive than PNG 4, and the cost will rise in the coming.

CNG-PNG Price: As a result of this adjustment, the retail cost of Compressed Natural Gas (CNG), which is used to fuel vehicles in Mumbai...

What Is SOVA Virus: SBI also warned that this harmful virus targets banking apps, so be on the lookout.

What Is SOVA Virus: To defraud victims, hackers utilise a variety of viruses. These infections are downloaded to your phone through phishing emails. One...

Indian Railways: 500 trains’ timetables have changed, and a new train timetable has been announced, which is big news for crores of railway¬†passengers.

Indian Railways: There is important news if you are going to travel by train. Many trains' schedules have changed by railways. More than 500...

Flipkart Big Dussehra Sale 2022 Goes Live for Plus Members: Top Deals on Mobile Phones, Electronic Gadgets, and everything else to know

From October 5 to October 8, Flipkart will go to launch its Big Dussehra Sale 2022. Flipkart is set to provide its discounts and offers...

Vistara Airlines Live TV Service: Vistara passengers will be able to watch World Cup matches during the flight, live streaming starts in the airline

Vistara On Board Live TV: If you travel by Vistara Airlines, then you will be happy to hear this news. Passengers will now be...

Most Popular


* indicates required