February 8, 2017 / 9:34 AM / 8 months ago

India's bond yield rises sharply after RBI keeps repo rate on hold

People walk past the Reserve Bank of India (RBI) head office in Mumbai, India, November 9, 2016. REUTERS/Danish Siddiqui/File Photo

MUMBAI (Reuters) - India’s benchmark 10-year bond yield rose as much as 25 basis points on Wednesday after the central bank kept the policy rate on hold for a second meeting in a row and changed its stance from “accommodative” to “neutral.”

The 10-year bond yield was at 6.66 percent as of 0921 GMT, up from its 6.43 percent close on Tuesday.

The NSE Nifty was down 0.17 percent, although the rupee strengthened to 67.33 per dollar from its Tuesday close of 67.41.

Reporting by Swati Bhat and Savio Shetty; Editing by Subhranshu Sahu

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