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Reserve Bank of India to hike again by year-end with August still in play: Reuters poll

The Reserve Bank of India (RBI) is expected to raise interest rates again in the final three months of this year, according to a Reuters poll of economists, but over one-third of them predicted a hike as early as at the next meeting in August.Accelerating inflation and India retaining top spot as the fastest-growing major economy prompted the RBI to lift the repo rate by 25 basis points to 6.25 percent at the June 4-6 meeting, wrong-footing a slim majority of economists polled by Reuters who had expected no change.The latest poll, taken in the past week, showed 43 of 56 economists forecasting the RBI?s repo rate at 6.50 percent or higher in the quarter ending December.
Source: Latest News

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