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On the domestic front, the RBI interest rate decision will be the key factor to watch out for, while globally, the participants will take cue from the US inflation numbers releasing on August 10.
A rate cut isn’t on the horizon yet. That would also mean home and auto loan EMIs are unlikely to fall anytime soon.
The market seems to have reacted to the MPC move as the benchmark indices rallied sharply in the previous session to hit the highest level of current calendar year. Today, the Nifty and Sensex turned volatile
The monetary policy committee of the Reserve Bank of India voted unanimously to keep the repo rate unchanged at 6.50 per cent. Experts say this means those with existing home loans should see no change in EMIs. However, the question of whether a borrower should choose a floating or fixed rate going forward remains unanswered
If there is no change in rates, stable growth in consumption is likely to lead to higher GDP growth. As of now, prices have stabilised which will further induce the growth in domestic demand