March 14, 2012 / 2:57 AM / 5 years ago

Indian bonds seen ranged before inflation data

MUMBAI, March 14 (Reuters) - Indian federal bonds
should move in a narrow band early on Wednesday, as traders
await inflation data around noon (0630 GMT) for clues on the
possible policy action at the central bank's review on Thursday.	
    * Economists expect headline inflation of 6.79
percent in February from a year earlier, faster than January's
6.55 percent, a Reuters poll showed on Tuesday. 	
    * The 10-year benchmark bond yield is seen
opening around 8.33 percent and moving in a band of 8.32 percent
to 8.38 percent, dealers said. It closed up 2 basis points on
Tuesday at 8.32 percent.	
    * Hopes for a rate cut by the Reserve Bank of India (RBI)
have faded after a surprisingly strong January factory output
data on Monday. 	
    * The RBI will leave its key repo rate 
unchanged at 8.50 percent, 17 of 20 analysts polled by Reuters
on Monday said. In a January poll, 8 of 22 respondents had
forecast a cut by the end of March. 	
	
 (Reporting by Aditya Phatak; Editing by Ranjit Gangadharan)

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