Risks to economy will continue in 2014 due to high retail inflation and the Reserve Bank is likely to revise key policy rates upwards by up to 0.50 per cent to contain price rise, said RICS, a global body for setting standards in real estate.
"The risk to overall economy because of the high retail inflation and revision in key policy rates will continue to remain. "It is likely that the RBI will revise key policy rates. Further revision by 25 to 50 basis points can be expected, as inflation control is the priority at this moment, even if the measure hinders growth in the short-term," Royal Institution of Chartered Surveyors (RICS) said in a release.
It said a revision of repo rate by 0.25 per cent in October by the Reserve Bank will help in reviving the economy in the long-term. RICS, the UK-based self-regulatory body for qualification and standards in land, property and construction, said the upward revision in repo rate .