Bloomberg News

Indian Bonds Gain as RBI Interest-Rate Increase Matches Forecast

October 25, 2011

Oct. 25 (Bloomberg) -- India’s 10-year bonds extended gains after the central bank raised its benchmark repurchase rate by 25 basis points to 8.5 percent, matching the median estimate of economists in a Bloomberg News survey.

The yield on the 7.80 percent government note due 2021 dropped to 8.70 percent as of 11:05 a.m. from 8.77 percent earlier, according to the central bank’s trading system. The rate closed at 8.82 percent yesterday.

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