Bonds Fall, Rupee Trims Gains After RBI Policy Review
Bond yields rose on Tuesday after the central bank cut banks' statutory liquidity ratio and their held-to-maturity ratio by half a percentage point each.
The RBI kept its key policy repo rate unchanged as widely expected, but warned about inflationary risks should a shortfall in monsoon rains spark a surge in food prices.
The benchmark 10-year bond yield rose 4 basis points to 8.77 per cent, while the new 10-year bond yield advanced 4 bps to 8.54 per cent.
The Nifty briefly fell 0.2 per cent. It had been flat before the policy outcome.
The partially convertible rupee trimmed gains to 60.88 per dollar from 60.83 before the policy outcome. It had closed at 60.93/94 per dollar on Monday.
Copyright Thomson Reuters 2014
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