RBI misses chance to up housing demand by keeping repo rate steady: Credai

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RBI misses chance to up housing demand by keeping repo rate steady: Credai - Business Standard

Quick Summary:

Credai National President Boman Irani said, "As RBI remains cautious regarding potential inflationary pressures, the central bank's decision to keep the repo rate unchanged at 6.5 per cent - albeit with a revised neutral stance - seems somewhat like a missed opportunity, especially with the festive season around the corner".

Realtors' apex body Credai on Wednesday said the RBI should have cut key interest rates to boost housing demand during the current festive season and demanded that the apex bank must consider lowering the repo rate in the next meeting.

The Reserve Bank of India (RBI) kept its key interest rate unchanged on Wednesday but took the first step towards a rate cut as it eased its relatively hawkish policy stance to 'neutral'.