RBI MPC meet: RBI governor Sanjay Malhotra says repo rate kept unchanged at 5.5%; what does it mean for your loan EMIs?

The RBI’s MPC has maintained the repo rate at 5.5% in its August review, offering no immediate EMI relief for borrowers, despite previous cuts. While a 1% repo rate reduction this year hasn’t fully translated to lower EMIs, expectations are for future reductions. This decision occurs amidst potential tariff hikes by the US due to India’s oil trade with Russia.