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HSBC expects one more interest rate hike this year

Updated : September 03, 2018 12:20:38 IST

India’s first-quarter economic growth accelerated to a nine-quarter high at 8.2 percent, beating expectations. Manish Wadhawan, head of fixed income-global markets at HSBC India, spoke to CNBC-TV18 about the Q1 GDP and growth prospects.

Wadhawan said that the Q1 GDP surprised on the positive.

“As far as monetary policy is concerned, I do not think that one quarter GDP will have an implication on monetary policy,” he said.

“The average GDP growth expected this year is predicted to be between 7.2-7.3 or 7.4 which has been factored in quite wells in terms of the monetary policy decision,” said Wadhawan.

Talking further about the monetary policy, he said, “There is a possibility of one more rate hike in this year at this moment; beyond that the fundamentals in the local economy doesn’t warrant more rate hikes in terms of inflation or even in terms of the GDP growth or numbers.”
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