India's economic growth to slow if central bank hikes rates

India's economic growth to slow if central bank hikes rates - official

Economy May 12, 2022 05:11AM ET

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India's economic growth to slow if central bank hikes rates - official

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.

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