December 10, 2012 / 8:38 AM / 5 years ago

MARKET EYE-Indian OIS rates flat; liquidity watched

* India's shorter-end 1-year OIS rate unchanged
at 7.64 percent, and the benchmark 5-year OIS rate
 also steady at 7.06 percent.
* Receiving bias stayed following the central bank's
announcement that it will buy up to 120 billion rupees ($2.22
billion) of federal government bonds on Tuesday through OMOs,
its second debt buy in as many weeks. 
* Caution remained ahead of the factory output data for October
scheduled to be released on Wednesday and headline inflation
data for November on Friday -- two key data points ahead of
RBI's monetary policy meeting on Dec. 18. 
* Cash deficit in the banking system, which stands at 907.90
billion rupees, will be watched closely as it is expected to
tighten further on advance tax outflows during this week.
 

 (archana.narayanan@thomsonreuters.com; +91-22-61807244; Reuters
Messaging: archana.narayanan.thomsonreuters.com@reuters.net)

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