Economic news
India’s economic growth to slow if central bank hikes rates – official
2022.05.12 12:32
FILE PHOTO: Vendors work at a wholesale vegetable and fruit market in Mumbai April 14, 2015. REUTERS/Danish Siddiqui
NEW DELHI (Reuters) – India’s economic growth rate is likely to slow if the central bank hikes interest rates, Finance Secretary TV Somanathan told CNBC TV18 on Thursday.
India’s central bank 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 central bank hiked its repo rate by 40 basis points (bps) to 4.40% following a emergency meeting earlier this month.
