RBI Gives Foreigners Reasons to Cheer While Holding India Rates
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The Reserve Bank of India’s hawkish tone and its decision to keep interest rates unchanged at Wednesday’s policy review left local bond traders grappling with losses. But foreign investors are unlikely to complain.
A “detailed review” of rules on overseas investment in debt markets, which the central bank said will be conducted by policy makers, may provide global funds with greater access to the nation’s bonds, which offer the highest 10-year yield among major Asian markets.