After a 50 basis points (bps) hike in repo rate on Friday, the Reserve Bank of India (RBI) could raise the repo rate again in December, according to the State Bank of India Research Report."We believe that a 35 bps rate hike in December looks imminent but beyond December it would be a touch and go. Additionally, the announcement of new projects declined to Rs. 4.35 lakh crore in Q1FY23 as compared to Rs. 5.75 lakh crore in Q4 FY22. It seems even though the intended capex announcements slowed down in Q1FY23, the working capital utilisation is still contributing to the double-digit credit growth. We need to look at this trend for the perceived growth inflation rate trade off,” the SBI said in its Ecowrap report titled, RBI Rate Hike Cycle Could Extend Till Dec: A Higher Terminal Rate Coupled With A Lower GDP Growth In FY 24 To Provide Buffer For A Rate Reversal Cycle?On Friday, the Reserve Bank of India (RBI) hiked its interest rate by 50 basis points to tame inflation.The central bank also retained its inflation projection for FY23 at 6.7 per cent amid geopolitical concerns triggered by the Russia-Ukraine war and expected inflation to be under control from January.Brace for more hike in EMIsRBI's decision on Friday to raise the key interest rate by half a percentage point will increase the EMIs for home, auto and other loans.Within hours of the RBI increasing the benchmark lending rate (repo) to a three-year high of 5.9 per cent, the State Bank of India (SBI) and largest mortgage lender HDFC raised their loan rates by 50 basis points. Other banks and NBFCs are likely to follow soon.Since May, the central bank has raised the repo rate by 190 basis points in its fight against elevated inflation.