Rates may rise if price spike spreads from food items: Shaktikanta Das
Friday, 25 August 2023 RBI governor Shaktikanta Das has suggested that interest rates may need to be raised if there is a second-round impact of food price shocks on overall prices. The Monetary Policy Committee (MPC) voted unanimously to hold rates for the third time this year. Das stated that while inflation remains above target in major economies, India shows resilience and stability and is emerging as a new growth engine. Other MPC members also agreed to look past the current high inflation. However, the projection for FY24's inflation rate remains above 5%, posing a challenge to reaching the 4% policy target.
No Relief In Sight as, Interest Rates , Continue to Rise.
NBC reports that mortgage rates continue to
climb, with the average interest rate on
a 30-year-mortgage rising to 7.48%.
According to Mortgage News Daily,
it is the highest level reached
since November of 2000.
The high cost of a...
Friday, 25 August 2023
