New Delhi: According to FICCI's latest Economic Outlook Survey, 25 basis points hike in repo and reverse repo rate by the Reserve Bank of India is very likely. The hike is likely to come at the forthcoming monetary policy review of July 27, said economists. According to the survey, though some of the respondents reject a hike in Cash reserve Ratio (CRR) at the present liquidity situation, some economists said that the growth momentum could be weakened by frequent hikes in policy rates. The prevailing inflation situation can be one of the major domestic factors that could slow down growth, said respondents. "If inflation persists at the current levels for a long time or if there is a sharper than anticipated pick-up in inflation then consumption demand could get dampened," said FICCI. The increase in fuel prices, food inflation continuing to remain sticky and the depreciation of the INR preventing any meaningful reflection of lower global prices in metals are the three factors that would hold the price line at the present level in the immediate future, according to the survey participants. The respondents predicted the annual GDP growth rate to be at 8.5 percent, agricultural sector to grow at 3.5 percent and the industrial sector to grow at 10 percent. According to the prediction of the economists, post September 2010, headline inflation would start trending downwards. The current situation headline inflation would settle in the 6 per cent to 8 percent range by end of the year, said economists.