India's 10-year bond yield near four-year high, RBI monetary policy meeting minutes highlight inflationary worries
Mumbai, Oct. 22 -- The yield on the benchmark 10-year government bond is hovering around highest in four years amid as markets are eying firm crude oil prices and further interest rate hikes. The yield is currently at 7.45%. Overall mood in volatile in debt markets after the Reserve Bank of India (RBI) on Wednesday rejected all bids at the government's treasury-bill (T-bill) auction amid the sharp rise in short-term borrowing costs. Meanwhile, according to latest RBI monetary policy meeting minutes, RBI governor Sanjay Malhotra noted that headline CPI is projected to touch the upper tolerance band in Q3 and remain significantly above 5 per cent in the next two quarters. After voting for a 25-bps hike in the policy rate, he opined that the...
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