HSBC Cuts FY27 India GDP Forecast to 6%, Sees Two RBI Rate Hikes

HSBC has significantly reduced its FY27 GDP growth estimate for India to 6%, citing weaker economic momentum. This revision is expected to influence the Reserve Bank of India's monetary policy, with the bank now anticipating two rate hikes to combat inflationary pressures. The Indian Rupee (INR) could face depreciation due to the anticipated rate differential narrowing, as higher rates may not sufficiently attract foreign capital amidst slowing growth. Traders will be particularly focused on upcoming RBI meetings and inflation data releases to gauge the central bank's response to these economic forecasts.

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