As minutes reveal hawkish RBI line on rates, bonds in India set for rout

The nation's 10-year yield jumped as much as 17 basis points to 7.80%, while the rupee fell past 66 per dollar to the lowest since March 2017

India’s bonds dropped and the rupee slid to the weakest in more than a year as unexpectedly hawkish central bank minutes boosted speculation policy makers will raise interest rates.

The nation’s 10-year yield jumped as much as 17 basis points to 7.80 percent, while the rupee fell past 66 per dollar to the lowest since March 2017.

Minutes of the April 4-5 meeting released Thursday showed most monetary policy committee members were optimistic the economy would rebound this year and actual output would move closer to its potential. Deputy Reserve Bank of India Governor Viral Acharya said he would vote for the