Twitter
Advertisement

Interest rates have peaked: Parekh

Interest rates in the economy, including home loan rates, have peaked and it is unlikely they would go up further, HDFC Chairman Deepak Parekh said.

Latest News
article-main
FacebookTwitterWhatsappLinkedin

NEW DELHI: Interest rates in the economy, including home loan rates, have peaked and it is unlikely they would go up further, HDFC Chairman Deepak Parekh said on Tuesday.

However, it is also unlikely that the rates would come down. "I think interest rates have already peaked. I don't see RBI hiking rates in the upcoming credit policy nor I see interest rates coming down in near future," Parekh said ahead of the quarterly review of monetary policy by the central bank on July 31.

On home loan rates, he said in the context of falling inflation, pressure on home loan rates have also eased.

Inflation of the week ended June 23 stood at 4.13 per cent way below the RBI's threshold level of 5 per cent for the current fiscal.

Although interest rates are not likely to go up further, there was little chance of rates coming down in the near future, he said.

Talking to the reporters on the sidelines of launch of Housing Index (Residex) by the housing finance regulator National Housing Bank, Parekh said it is a step in the right direction which will enable home buyers to check the prices in the bigger cities.

The Residex has been developed on the basis of actual market prices of residential properties in five big cities with the base price of 2001.

Five cities includes Delhi, Mumbai, Bhopal, Bangalore and Kolkata. Parekh said this index will be extended to 35 other cities having a population of more than one million in the next 3-6 months.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement