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Govt bonds recover sharply on report RBI to consider debt purchases

There was no immediate comment on the report from the RBI, which holds its next policy review on February 6-7

Reuters  |  NEW DELHI 

Indian bonds rallied on Friday, recovering from losses that earlier sent benchmark 10-year yields up as much as 8 basis points, on a media report the central bank might buy bonds from the open market to support the country's weakening debt markets. NewsRise, a financial news provider, cited an unnamed senior finance ministry official as saying the Reserve Bank of India might purchase bonds to support the borrowing programme for the next financial year and to support state-run lenders who are the market's biggest buyers. The report sparked a sharp turnaround in a market ...

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First Published: Fri, February 02 2018. 16:51 IST