The Reserve Bank of India (RBI) 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 aware of the development said on Wednesday, said Reuters.
In its first rate move in two years and its first hike in nearly four, the RBI raised the repo rate by 40 basis points (bps) to 4.40 percent following a emergency meeting earlier this month.
The RBI will "certainly" raise the forecast again in June, as it did not want to do it in the off-cycle emergency meeting in May, said the source, who did not want to be identified as the discussions are private, Reuters said.
(With inputs from Reuters)
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