India’s economic growth to slow if RBI hikes rates – official

NEW DELHI, May 12 (Reuters) – India’s economic growth rate is likely to slow if the Reserve Bank of India hikes interest rates, Finance Secretary TV Somanathan told CNBC TV18 on Thursday.

The Reserve Bank of India is likely to raise its inflation projection for the current fiscal year at its June monetary policy meeting and will consider more interest rate hikes, a source said on Wednesday.

The Reserve Bank of India hiked its repo rate.

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Source: Reuters