Apr
19
HSBC Sees India Yield Dropping to 7% as Rajan Gets Cash Flowing
By-
Three-month treasury bill yield slides to lowest since 2010
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Interbank rate averages 6.62% in April, versus 7.19% in March
Reserve Bank of India Governor Raghuram Rajan’s measures to tackle a cash squeeze are starting to bear fruit.
A benchmark overnight interbank rate has averaged 6.62 percent this month, 57 basis points lower than in March, data compiled by Bloomberg show. HSBC Holdings Plc sees money-market costs falling further as the RBI buys bonds in the open market, predicting the 10-year sovereign yield will drop to 7 percent by year-end, a level last seen in 2009…
HSBC Sees India Yield Dropping to 7% as Rajan Gets Cash Flowing
