MUMBAI: The Reserve Bank of India (RBI) on Wednesday kept its key policy rate unchanged at 6.5 per cent after the conclusion of its fifth bi-monthly policy review. Following the move, the reverse repo rate stands at 6.25%.
The current floating interest rates of SBI home loan range between 8.7% and 9.45%, the floating interest rates of HDFC Bank home loan are hovering between 8.8% and 9.2%. The RBI, however, lowered inflation forecast sharply for the second half (six months) of 2018-19 to 2.7 per cent-3.2 per cent.
The statutory liquidity ratio (SLR), meanwhile, was cut by 25 basis points to 19.25 per cent from January 1, 2019. The next meeting of the MPC is scheduled between 5th to 7 February 2019.