Admitting that high interest rate is hurting economy, the Reserve Bank today said the country's growth rate is likely to moderate to 7.5-7.6 per cent this fiscal. RBI Deputy Governor Subir Gokarn told reporters in New Delhi that slowdown in economy are impacting the overall investment scenario in the country. Inflation, Gokarn said would start moderating fromDecember onwards and dip below 7 per cent in April, 2012.In its mid-year monetary policy review last month, RBI had lowered the growth projections to 7.6 per cent for 2011-12 from 8 per cent estimated earlier. In the previous fiscal economy grew by 8.5 per cent.