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Bond yields slide on finmin comments

Reserve Bank of India is due to announce its policy decision at around 11 am.

Written by Agencies | Mumbai | Published: April 17, 2012 11:05:33 am

India’s bond yields fell sharply after Finance Minister Pranab Mukherjee suggested there should be a reversal in the central bank’s stance because of moderating inflation,cementing expectations for a repo rate cut from the central bank.

The Reserve Bank of India is due to announce its policy decision at around 11 am India time,with analysts widely expecting a cut in the repo rate though some also predict an accompanying cut in the cash reserve ratio.

At 10:52 am,the 10-year bond yield fell as much as 11 basis points to 8.39 per cent from 8.50 per cent before the minister’s comments. It had closed at 8.45 per cent on Monday.

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