The Indian economy grew at its slowest pace in six quarters, but the results exceeded even the gloomy forecasts, reinforcing expectations that the central bank of the country will continue to raise interest rates as a measure against inflation. The Gross Domestic Product (GDP) of India, whose economy is the third largest in Asia, has slowed its growth to 7.7% in the three months to the end of June. The results slightly ahead of the average forecast of a Reuters survey of annual growth of 7.6%. Contributed to the delay the release of the leading interest rates, high inflation and a gloomy economic outlook worldwide. The economic growth in India, for the quarter January to March was 7.8% annually is slows down progressively from January 2010. India reported an increase in GDP of 8.5 percent for the year year ended March 30, but given the inflation level, which fluctuates around 9%, the government lowered its assessment of economic growth for the current year to 8.2%. Since March 2010 the Indian central bank has raised interest rates leading 11 times, but inflation in July remained high – 9.22 percent, prompting speculation of renewed increases in interest rates.