KOLKATA, Feb 8: Experts are cautiously optimistic about the Reserve Bank of India’s decision to maintain the REPO rates unchanged at 6.5 per cent for the sixth consecutive time.
Siddhartha Sanyal, chief economist and head of research at Bandhan Bank, provided insights into the potential future trajectory of monetary policy.
“Status quo in the repo rate in today’s MPC meeting was no surprise. Legroom for the repo rate from the current 6.50 per cent is limited,” Sanyal remarked, highlighting the cautious approach likely to be adopted by the RBI in light of global economic conditions and political events.
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Sachin Marani, director of Square Feet Group and secretary of CREDAI MCHI – Thane, expressed satisfaction with the decision, highlighting the stability it brings to the market.
“We are pleased that the RBI has decided to maintain the REPO rates unchanged, considering that inflation remains above the 4 per cent target,” Marani stated.
He emphasised the need for potential relief for homebuyers and developers.
Anshuman Magazine, chairman & CEO of CBRE India, South-East Asia, Middle East & Africa, pointed out the minimal impact on home loan interest rates due to the unchanged repo rate.
“The stability in interest rates is poised to motivate potential homebuyers and empower developers to plan and launch new projects with increased confidence,” Magazine remarked.
Ashar Group VP Finance Dharmendra Raichura, commended the RBI’s commitment to inflation control and stability.
“The consistent maintenance of the repo rate at 6.5 per cent for the sixth consecutive time reflects the central bank’s commitment to achieving the 4 per cent Consumer Price Index (CPI) target,” Raichura noted.
Chief economist and head of research & REIS, India, JLL, Samantak Das, emphasized India’s strong economic fundamentals amidst global uncertainties.
“India’s economy, driven by accelerating growth indicators and softening inflation, has provided comfortable legroom to the RBI to keep the repo rate unchanged at 6.5 per cent for the sixth consecutive time,” Das commented.
Stakeholders in the real estate sector anticipate potential rate cuts in the coming months, which could further stimulate the market.
With the hope of increased affordability and sustained growth, the industry looks towards future monetary policy decisions for continued support in fostering economic momentum. (PTI)
