Dec industrial output growth slows
India's industrial production growth slowed sharply in December, its slowest pace in two months, adding to pressure on the RBI to start cutting interest rates to help stimulate an economy that is headed for its slowest growth in three years. Full Article
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Indian bond yields higher; rate cut hopes belied
MUMBAI |
MUMBAI Nov 17 (Reuters) - Indian federal bond yields rose on Monday after the central bank belied expectations of some investors and refrained from cutting rates further in a fresh series of measures over the weekend to bolster liquidity.
* At 9:25 a.m., the 10-year bond yield was at 7.50 percent, two basis points higher than Friday's close of 7.48 percent.
* On Saturday, the central bank said it was raising the limit on export credit refinance available to banks to release extra liquidity of about 220 billion rupees into the banking system. [ID:nSP373697]
* It also extended a special repurchase facility announced last month to provide liquidity for mutual funds and non-banking finance companies until March 2009. (Reporting by Anurag Joshi; Editing by Ramya Venugopal)
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