Mumbai, July 06: Leading home loan lender HDFC today said an immediate hike in lending rates is unlikely, notwithstanding an increase in key lending and borrowing rates by the RBI last week.
“In the very short-term, I do not see any hikes by banks and non-banking finance companies,” HDFC vice-chairman and chief executive Keki Mistry told reporters here.
The apex bank last Friday hiked its short-term lending and borrowing rates (repo and reverse repo) by 25 basis points to 5.5 and 4 per cent respectively to tighten money supply in view of the rising inflationary pressures.
Headline inflation has already crossed double-digit mark in May at 10.16 per cent while food price rise has eased a bit by the third week of June to 12.98 per cent. But the recent fuel price hike is likely to further drive the inflation rates in the coming days, according to analysts.
–Agencies