The RBI's Monetary Policy Committee (MPC) announced a 35-basis point increase in the repo rate to 6.25 per cent on Wednesday.
Before Wednesday's move, the previous three rate hikes by the MPC were each of 50 basis points (bps). India's sovereign bond market, however, seems to believe that a reduced tightening notwithstanding, the central bank's rate hike cycle has some distance to go.
The 10-year bond yield rose past the psychologically significant 7.30 per cent mark on Wednesday before easing back to close at 7.27 per cent, two bps higher than the previous close. Bond prices and yields move inversely.
This story is from the December 08, 2022 edition of Business Standard.
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This story is from the December 08, 2022 edition of Business Standard.
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