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Government bond yields fell to a more than three-year low on Wednesday, reaching their lowest since December 20, 2021, as traders bought domestic securities following the Reserve Bank of India's (RBI’s) dovish monetary policy stance, dealers said.
The benchmark yield settled at 6.44 per cent, down from the previous close of 6.48 per cent. Bond yields and prices are inversely related.
RBI Governor Sanjay Malhotra mentioned in the post-policy conference that the central bank would ensure surplus liquidity and that an accommodative stance implies either a status quo or a rate cut, prompting traders to anticipate a deeper rate cut
