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Indian bonds, swaps ease more on RBI deputy comments
March 20, 2012 / 6:02 AM / 6 years ago

Indian bonds, swaps ease more on RBI deputy comments

March 20 (Reuters) - Indian federal bond yields and swaps eased marginally on Tuesday after comments by a central bank deputy governor fueled expectations of a rate cut in the April monetary policy review.

Reserve Bank of India Deputy Governor Subir Gokarn, who handles monetary policy, said stabilizing food prices would help moderate inflation, while global oil prices alone do not determine the movement in local prices.

The 10-year benchmark bond yield fell 1 basis point to 8.39 percent following Gokarn’s comments, while the benchmark five-year swap rate and the one-year rate fell each by 2 basis points to 7.60 percent, and 8.20 percent respectively. (Reporting by Neha Dasgupta; Editing by Subhadip Sircar)

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