Monetary policy: The language used could act like a tool in itself
RBI’s April policy made no change but the messages in its words still resulted in market movements
Source: livemint.com
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RBI owns more of its benchmark 10-year bond than yield-managing BOJ
The benchmark yield in India’s one-trillion-dollar sovereign bond market is holding remarkably steady despite a ballooning government borrowing program. A possible reason for the lull is that the central bank now holds more than half of the closely watched 10-year bond. The Reserve Bank of India has lifted its holding of the 5.85% 2030 bond to 545 billion rupees ($7.5 billion) or at least 52% of the total outstanding via Operation Twists, two tranches of government securities acquisition program and indirectly via a special auction in February, Bloomberg calculations show. The number is l...
Source: business-standard.com