Home Loans Costlier As RBI Hikes Lending Rate For Second Time In Weeks

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RBI announces 25 basis points hike in repo rate to 6.5 per cent.

This the first time since October 2013 that the central bank has hiked borrowing costs at two consecutive policy meetings.

In June, the repo rate, or the benchmark lending rate, was raised for the first time in over four years, by 25 basis points to 6.25 per cent.

Thirty-seven of 63 economists in a Reuters poll last week said the RBI will raise rates, while 22 said the next hike would come later this year, or early in 2019.

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