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India bond selloff to continue as RBI policy minutes hint at more rate hikes
MUMBAI: Indian government bonds are likely to weaken further in early deals on Thursday, after minutes of the latest monetary policy meeting showed that members of the rate-setting panel indicated further rate hikes may be needed to curb inflation. The benchmark 6.94% 2036 bond yield may trade between 7.40% and 7.47%, according to a trader at a primary dealership, after closing at 7.4427% in the previous session. The Reserve Bank of India’s Monetary Policy Committee had raised the repo rate by 25 basis points to 5.50% earlier this month, its first hike in nearly four years. It also shifted its...
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