Reserve Bank of India (RBI) Governor Shaktikanta Das Friday said the central bank may conduct open market sales of government papers to manage liquidity in the system, triggering a spike in bond yields to their highest level in FY 2023-24.
The RBI signal on open market operations (OMO) to rein in inflation took bond market participants by surprise, particularly those who had anticipated an influx of foreign funds following India’s inclusion in JP Morgan’s bond indices.
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