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BofA forecasts 100 bps RBI rate hikes by mid-2027, terminal rate at 6.25%

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Bank of America Securities has predicted that the Reserve Bank of India will raise interest rates by a cumulative 100 basis points by the first half of 2027. The investment bank has revised its forecast for the first hike to October, earlier than its previous estimate of December. These successive increases would bring the repo rate to a terminal level of 6.25 percent. The projection is underpinned by concerns over economic growth and inflationary pressures in India. However, BofA noted that any significant slowdown in the economy could alter the RBI's rate-hiking trajectory.

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