RBI’s Big Rate Cut Seen Boosting Demand for Houses, Automobiles
The Reserve Bank of India’s rate cut comes as housing affordability has been deteriorating in recent years on a combination of stagnant income, high home loan rates and elevated property prices, particularly in cities like Mumbai.
Photographer: Dhiraj Singh/BloombergFollow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here.
Reserve Bank of India’s surprise decision to cut its key policy rate by 50 basis points is expected to boost demand for homes and automobiles by way of lower borrowing costs.