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VERIFIEDET Policy·negative
HSBC slashes FY27 GDP estimate sharply to 6%, expects two RBI rate hikes
AI Summary
- ·HSBC has lowered its FY27 GDP estimate for India to 6%.
- ·The slowdown is linked to an energy crisis and insufficient rainfall, which are also expected to increase inflation.
- ·The Reserve Bank of India may implement two interest rate hikes this fiscal year to control rising prices.