(06 Jun 2025, 12:12)

Local yields little changed after RBI cuts rates to near three-year low

Domestic debt markets were little changed after the Reserve Bank of India (RBI) has slashed its key lending rate, or the repo rate, by 50 basis points to 5.5% amid softening inflation. The decision was unanimously taken at the bi-monthly Monetary Policy Committee (MPC) meeting. With this reduction, the interest rates have fallen near three-year low. Domestic yields did not move much following this as they have tended to turn lower on a sustained basis in recent weeks and currently linger around three and half year low. The yield on the 6.33 GS 10-year bond stood flat at 6.22%, largely holding steady after the RBI decision. It has come down around 40 basis points in last two-months. Meanwhile, the US Treasury yields moved up from a one month low near 4.30% as US nonfarm payrolls data, due to come out today continued to dictate action. A firm undertone in WTI Crude oil, which lingers around five-week high above $63 per barrel is also being eyed by local bond traders.

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Local yields little changed after RBI cuts rates to near three-year low