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Gold's recent correction has already been substantial. From the January 28 record of $5,589, spot gold is down around 26%, while the metal is hovering just above the $4,110.55 seven-week low.
The RBI has raised the repo rate by 25 basis points to 5.50%. Here’s how the hike could affect home loan interest rates, EMIs and loan tenure, and what borrowers can do.
RBI governor Sanjay Malhotra announced the Monetary Policy Committee’s (MPC) decision to hike repo rate by 25 basis points on Wednesday. Repo rate is the rate at which RBI lends money to banks and it now stands at 5.50%.