India short bond yields dip as dovish RBI aids sentiment
3 weeks, 6 days ago

India short bond yields dip as dovish RBI aids sentiment

Live Mint  

MUMBAI, Feb 24 - Indian benchmark bond yield ended little changed on Monday, while shorter-duration bond yield declined, as the central bank's longer-term liquidity infusion plan and dovish commentary aided sentiment. "Given unanimity in views at the committee about lacklustre growth despite recent revival, and signs of more conviction about food inflation that has been a key headwind, the case for a follow up rate action from RBI MPC in April meeting remains very strong," ICICI Securities Primary Dealership said in a note. Since mid-January, the RBI has infused more than 3.6 trillion rupees into the banking system, including through 1 trillion rupees of open market operations and 388 billion rupees through secondary market bond purchases. The RBI has also infused around 440 billion rupees through a six-month dollar-rupee swap, and injected 1.83 trillion rupees via long-term repos as part of the package.

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History of this topic

Indian bonds rally on demand boost; 10-year yield’s weekly fall most in 4 months
2 days, 20 hours ago

Indian bonds rally on demand boost; 10-year yield’s weekly fall most in 4 months

Live Mint  

By Khushi Malhotra and Dharamraj Dhutia MUMBAI, March 21 - Indian government bonds rallied this week, with the 10-year benchmark bond yield falling the most in four months, amid growing expectations that another domestic rate cut could unleash pent up investor demand. Indian government bonds were not performing due to tight liquidity conditions, but now there is high demand, said …

Indian bond yields track US peers lower, state debt sale in focus
1 week, 6 days ago

Indian bond yields track US peers lower, state debt sale in focus

Live Mint  

By Dharamraj Dhutia MUMBAI, March 11 - Indian government bond yields dipped in the early session on Tuesday, tracking a sharp decline in U.S. Treasury yields, but the decline was limited as traders braced for heavy supply from states. The U.S. 10-year yield eased by 11 basis points on Monday as demand for safe-haven assets increased after President Donald Trump …

India bond yields could inch up as Treasury yields rise, supply hurts
2 weeks ago

India bond yields could inch up as Treasury yields rise, supply hurts

Live Mint  

By Dharamraj Dhutia MUMBAI, March 10 - Indian government bond yields are expected to inch higher at the start of the week, tracking an uptick in U.S. Treasury yields as well as elevated supply of debt from states. U.S. yields rose on Friday after Federal Reserve Chair Jerome Powell indicated the central bank could be patient in determining when to …

Govt wants rupee stability; RBI may again aggressively defend the currency
2 weeks ago

Govt wants rupee stability; RBI may again aggressively defend the currency

Live Mint  

Mumbai/New Delhi: The Reserve Bank of India is expected to continue defending the rupee, with the government expressing confidence that the central bank's strategic interventions would stagger the pace of slide, according to a senior official. There is no change in the forex policy of the central bank despite several quarters believing that under the new governor Sanjay Malhotra, RBI …

Indian bonds consolidate as 10-year bond yield tops 6.75%
2 weeks, 5 days ago

Indian bonds consolidate as 10-year bond yield tops 6.75%

Live Mint  

By Dharamraj Dhutia MUMBAI, March 5 - Indian government bond yields consolidated on Wednesday after the benchmark bond yield rose above the 6.75% mark to its highest in over six weeks as broader sentiment remained cautious amid heavy debt supply. States raised 505 billion rupees through a sale of bonds on Tuesday, with cutoff yields higher than anticipated, indicating weak …

India bond yields seen little changed as traders search for fresh triggers
2 weeks, 5 days ago

India bond yields seen little changed as traders search for fresh triggers

Live Mint  

By Dharamraj Dhutia MUMBAI, March 5 - Indian government bond yields are expected to be largely unchanged in early deals on Wednesday, as market participants continue to await fresh triggers at a time when appetite for longer-duration debt is waning. Daily average trading volume in the last four sessions has declined to 366 billion rupees, down from 423 billion rupees …

India bond yields may inch down tracking US peers; fall capped before state debt sale
2 weeks, 6 days ago

India bond yields may inch down tracking US peers; fall capped before state debt sale

Live Mint  

By Dharamraj Dhutia MUMBAI, March 4 - Indian government bond yields are expected to ease slightly in early deals on Tuesday, tracking a further drag in U.S. Treasury yields, but the fall will be capped ahead of a heavier-than-scheduled supply of Indian state debt. "But the declines are likely to be countered by selling, as traders make way for a …

India bond yields may inch up on elevated state debt supply
3 weeks ago

India bond yields may inch up on elevated state debt supply

Live Mint  

By Dharamraj Dhutia MUMBAI, March 3 - Indian government bond yields are expected to rise at the start of the last month of the financial year, which will begin with a heavier-than-scheduled supply of debt by Indian states. Indian states aim to raise 505 billion rupees on Tuesday, and the quantum is over 100 billion rupees higher from the pre-announced …

RBI’s FX swap auction sees strong demand as system liquidity deficit persists
Trending News
3 weeks, 2 days ago

RBI’s FX swap auction sees strong demand as system liquidity deficit persists

Live Mint  

Mumbai: The Reserve Bank of India today saw strong demand its foreign currency buy/sell swap auction amid persistently tight liquidity deficit in the banking system. RBI will try to keep deficit in the system around ₹1-1.5 trillion and will use instrument like OMO buy/ Fx swap and if needed may be CRR as well,” Gopal Tripathi, President and Head, Treasury …

RBI injects $10 billion via currency swap to ease liquidity deficit in financial system: Report
Trending News
3 weeks, 2 days ago

RBI injects $10 billion via currency swap to ease liquidity deficit in financial system: Report

Live Mint  

The Reserve Bank of India injected $10 billion through a currency or foreign-exchange swap auction on Friday, stepping up efforts to ease one of the worst liquidity deficits to hit the country's financial system. The cash crunch has been caused partly by the central bank’s intervention in the foreign exchange market to shield the rupee from global volatility amid US …

India bond traders eye debt auction, GDP data for directional cues
3 weeks, 3 days ago

India bond traders eye debt auction, GDP data for directional cues

Live Mint  

By Dharamraj Dhutia MUMBAI, Feb 28 - Indian government bond yields were largely unchanged in early deals on Friday, as market participants awaited a weekly auction as well as domestic GDP growth data. New Delhi aims to raise 320 billion rupees through a sale of bonds, in what would be the last scheduled auction for central government bonds for the …

India bond yields seen little changed ahead of state debt sale
3 weeks, 6 days ago

India bond yields seen little changed ahead of state debt sale

Live Mint  

By Dharamraj Dhutia MUMBAI, Feb 25 - Indian government bond yields are expected to be largely flat in early deals on Tuesday, as traders awaited fresh supply of debt through securities auctions by states, while shorter duration bonds remain supported on central bank's liquidity infusion. Since mid-January, the RBI has infused more than 3.6 trillion rupees into the banking system, …

​Necessary infusion: on the RBI’s currency swap
1 month ago

​Necessary infusion: on the RBI’s currency swap

The Hindu  

The Reserve Bank of India’s recent decision to inject an additional $10 billion into the financial system through a dollar/rupee swap auction is a timely measure aimed at addressing long-term liquidity concerns among domestic lenders. These concerns stem from a flight of foreign capital from Indian stock markets, as investors seek better returns in the United States amid President Donald …

RBI to conduct $10 billion forex currency exchange to infuse liquidity in India’s banking system
1 month ago

RBI to conduct $10 billion forex currency exchange to infuse liquidity in India’s banking system

Live Mint  

MUMBAI - The Reserve Bank of India will conduct a massive $10 billion three-year dollar/rupee swap auction next week to infuse durable rupee liquidity into the banking system, which has been reeling under large cash deficits, the central bank said on Friday. "The three-year maturity of the swap indicates that the RBI is looking at injecting more durable liquidity in …

Demand for debt sale to guide Indian bonds before RBI minutes
1 month ago

Demand for debt sale to guide Indian bonds before RBI minutes

Live Mint  

By Dharamraj Dhutia MUMBAI, Feb 21 - Indian government bond yields were largely unchanged on Friday as market participants awaited the outcome of the weekly debt auction and the minutes of the central bank's latest policy meeting. New Delhi aims to raise 340 billion rupees in its penultimate debt sale for the current financial year that ends in March. On …

RBI pumps in Rs 45 trillion in banking system since December to meet liquidity needs
1 month ago

RBI pumps in Rs 45 trillion in banking system since December to meet liquidity needs

New Indian Express  

MUMBAI: The Reserve Bank has injected a whopping Rs 45 trillion into the banking system since the December 6 monetary policy review when it slashed the cash reserve ratio by 50 bps to 4%, releasing Rs 1.16 trillion into the system. Of the total, more than Rs 43 trillion of fresh liquidity has flown into the system between December 11 …

Rupee’s dip cushioned by likely RBI intervention, forward premiums decline
1 month ago

Rupee’s dip cushioned by likely RBI intervention, forward premiums decline

Live Mint  

By Jaspreet Kalra MUMBAI, Feb 18 - The Indian rupee weakened slightly on Tuesday as the impact of weak regional currencies and heightened dollar demand - spurred by positions in the non-deliverable forwards market - was blunted by likely dollar-selling by the central bank. However, state-run banks were spotted offering dollars in early trading near the 86.94-86.95 levels, most likely …

India bond yields seen steady before key events
1 month ago

India bond yields seen steady before key events

Live Mint  

By Dharamraj Dhutia MUMBAI, Feb 18 - Indian government bonds are expected to trade largely unchanged in early deals on Tuesday, as investors await key market-moving events, including debt purchase by the central bank and Federal Reserve minutes, in the second half of the week. The Reserve Bank of India will buy bonds worth 400 billion rupees on Thursday, which …

India rupee to take cues from dollar path, tariff reaction; bonds to eye liquidity moves
1 month, 1 week ago

India rupee to take cues from dollar path, tariff reaction; bonds to eye liquidity moves

Live Mint  

By Dharamraj Dhutia and Nimesh Vora MUMBAI, Feb 17 - The Indian rupee's direction this week will be shaped by the dollar's reaction to its recent correction and whether worries over U.S. tariffs continue to subside, while the bond market will be on watch for any further liquidity infusion measures by the central bank. That was largely due to the …

RBI to inject $16 billion liquidity boost into banking system next week amid tax outflows: Report
1 month, 1 week ago

RBI to inject $16 billion liquidity boost into banking system next week amid tax outflows: Report

Live Mint  

India's central bank, the Reserve Bank of India, is set to ramp up the liquidity in the nation's banking system through the infusion of $16 billion by next week amid the large tax outflows, reported the news agency Reuters. The central bank has doubled the amount of government securities that the nation aims to buy to $4.61 billion, based on …

Indian bond yields rise as central bank policy, weak rupee weigh on sentiment
1 month, 2 weeks ago

Indian bond yields rise as central bank policy, weak rupee weigh on sentiment

Live Mint  

By Dharamraj Dhutia MUMBAI, Feb 10 - Indian government bond yields rose in early trading on Monday as investors remained cautious following the central bank's monetary policy decision, while the local currency's decline also weighed on sentiment. "Bonds are facing impact from a combination of factors, including the day two impact of central bank's monetary policy decision, constant fall in …

RBI’s sovereign bonds holdings to be treated at par with market; direct debt switch unlikely in FY26: Report
1 month, 2 weeks ago

RBI’s sovereign bonds holdings to be treated at par with market; direct debt switch unlikely in FY26: Report

Live Mint  

The Reserve Bank of India 's holding of sovereign bonds, due to mature in the next financial year 2025-26 will likely be treated at par with the market by the government rather than swapped for longer-dated debt. A government official told news agency Reuters that the RBI holds around ₹1 lakh crore of bonds maturing in FY26, as per market …

India bond yields a tad up before budget, 10-year yield posts monthly decline
1 month, 3 weeks ago

India bond yields a tad up before budget, 10-year yield posts monthly decline

Live Mint  

By Dharamraj Dhutia MUMBAI, Jan 31 - Indian government bond yields ended marginally higher on Friday as market participants await the annual budget for directional triggers. Economists polled by Reuters expect New Delhi to stick to a fiscal deficit target of 4.5% of gross domestic product for the financial year starting in April when it presents the budget on Feb. …

RBI Liquidity Steps Send Indian Bond Yields to a Three-Year Low
1 month, 3 weeks ago

RBI Liquidity Steps Send Indian Bond Yields to a Three-Year Low

Live Mint  

-- Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. “We see measures as a decisive turn in the monetary policy easing cycle by the Reserve Bank of India,” Goldman Sachs Group Inc.’s economists led by Santanu Sengupta, wrote in a note. The Reserve Bank of India late Monday said it …

Longer duration India debt funds preferred after central bank liquidity steps, Tata AM exec says
1 month, 3 weeks ago

Longer duration India debt funds preferred after central bank liquidity steps, Tata AM exec says

Live Mint  

By Dharamraj Dhutia MUMBAI, Jan 28 - The Indian central bank's recent measures to boost bank liquidity provides the right opportunity for investors to shift money to longer duration funds from liquid funds, as these steps signal rate easing ahead, a Tata Asset Management executive said. India's 10-year benchmark bond yield dropped to its lowest level in nearly three years …

India 10-year bond yield nosedives to 3-year low on central bank’s buying
1 month, 3 weeks ago

India 10-year bond yield nosedives to 3-year low on central bank’s buying

Live Mint  

By Dharamraj Dhutia MUMBAI, Jan 27 - Indian government bond yields plunged at a start of a busy week, with the 10-year plummeting to a three-year low, as surprise bond purchases by the central bank boosted investor sentiment. The benchmark yield ended at 6.6800%, the lowest for 10-year bond yield since Feb. 18, 2022, compared with the previous close of …

India central bank opts for bond purchases in week to Jan 17
1 month, 3 weeks ago

India central bank opts for bond purchases in week to Jan 17

Live Mint  

By Dharamraj Dhutia MUMBAI - The Reserve Bank of India made net purchases of government bonds in the secondary market last week, marking the first such operation in over three years, data released on Friday showed. The RBI net bought bonds worth 101.75 billion rupees in the week ending Jan. 17. India's banking system liquidity has stayed in deficit since …

India bond yields to track rupee’s moves for direction
Trending News
2 months, 1 week ago

India bond yields to track rupee’s moves for direction

Live Mint  

By Dharamraj Dhutia MUMBAI, Jan 14 - Indian government bond yields are expected to be largely unchanged in early deals on Tuesday as it awaits the direction of the local currency, while U.S. yields remain elevated on dwindling bets of a rate cut in the world's largest economy. The Indian rupee ended at a fresh record low of 86.5750 and …

Mint Quick Edit | Can India’s sovereign bonds attract more foreign inflows?
2 months, 1 week ago

Mint Quick Edit | Can India’s sovereign bonds attract more foreign inflows?

Live Mint  

Reports suggest that the Securities and Exchange Board of India will soon ease the way for foreign portfolio investors that intend to invest only in government securities. While these bonds saw inflows of about $14.5 billion via the “fully accessible route" in 2024, aided partly by their inclusion in the JP Morgan Emerging Market Index, more FPI money would have …

India bond traders eye debt sale, data for directional triggers
2 months, 2 weeks ago

India bond traders eye debt sale, data for directional triggers

Live Mint  

By Dharamraj Dhutia MUMBAI, Jan 10 - Indian government bond yields were largely unchanged in early deals on Friday, as market players awaited fresh supply from the weekly debt auction and key data for further directional moves. "Demand at the auction followed by U.S. job readings and inflation data would drive the market in the near term," a trader said. …

Indian bond yields extend fall as foreign banks build positions
2 months, 2 weeks ago

Indian bond yields extend fall as foreign banks build positions

Live Mint  

By Nimesh Vora MUMBAI, Jan 7 - Indian government bond yields dipped on Tuesday, adding to the previous session's decline, as foreign banks built fresh positions in the New Year, traders said. It looks like foreign banks are "taking up" fresh position in the New Year, a trader at a state-run bank said. Foreign banks bought government securities worth 35.45 …

India bond yields seen little changed; 2025 starts with supply pressure
2 months, 3 weeks ago

India bond yields seen little changed; 2025 starts with supply pressure

Live Mint  

By Dharamraj Dhutia MUMBAI, Jan 2 - Indian government bond yields are likely to be little changed in early deals on Thursday, as traders await fresh supply a day later. "The benchmark bond yield could move to par levels, but any major rise in the yield beyond 6.79%-6.80% seems unlikely for today," the trader said. Bond yields declined in 2024, …

Rupee dips on importer dollar bids, far forward premiums retreat
2 months, 3 weeks ago

Rupee dips on importer dollar bids, far forward premiums retreat

Live Mint  

By Jaspreet Kalra MUMBAI, Jan 1 - The Indian rupee weakened slightly in early trading on Wednesday, pressured by dollar bids on behalf of importers amid lacklustre trading to kick off 2025, while dollar-rupee far forward premiums retreated from an over one-and-a-half-year high. The local currency has faced persistent downward pressure over the last few weeks on the back of …

Investor push on 2024’s final trading session nudges Indian bond yields down
2 months, 3 weeks ago

Investor push on 2024’s final trading session nudges Indian bond yields down

Live Mint  

By Dharamraj Dhutia MUMBAI, Dec 31 - Indian government bond yields declined in early deals of the last trading session of 2024 as investors took fresh positions, while a downward tick in U.S. yields aided sentiment. "Fresh positioning is aiding, because majority view is that yields will move at least 10-15 basis points lower from its current levels in the …

India bond yields flat in thin activity before year-end
2 months, 3 weeks ago

India bond yields flat in thin activity before year-end

Live Mint  

By Dharamraj Dhutia MUMBAI, Dec 30 - Indian government bond yields were little changed on Monday, even as U.S. Treasury yields remained elevated, with market participants seeking a firm direction towards the end of the year. The daily average trading volume has dropped to around 381 billion rupees over the last two weeks from 719 billion rupees in the prior …

India rupee may dip, bond yields to track US peers
2 months, 3 weeks ago

India rupee may dip, bond yields to track US peers

Live Mint  

By Dharamraj Dhutia and Jaspreet Kalra MUMBAI, Dec 30 - The Indian rupee is expected to trade with a bearish bias this week after slumping to a record low on Friday, with traders watching out for how sternly the central bank defends the local currency while bond yields will track U.S. peers and the rupee. Given the "weak global set-up …

Rupee slips to all-time low pressured by weak yuan, importer dollar bids
3 months ago

Rupee slips to all-time low pressured by weak yuan, importer dollar bids

Live Mint  

By Jaspreet Kalra MUMBAI - The Indian rupee weakened to its lifetime low on Monday, pressured by weakness in the offshore Chinese yuan and strong dollar bids from importers, likely related to month-end payments, while state-run banks' dollar sales capped the decline. The rupee declined to 85.12 against the U.S. dollar, hitting an all-time for the fifth consecutive trading session …

Indian Banking Liquidity Deficit Hits Highest in Six Months
3 months ago

Indian Banking Liquidity Deficit Hits Highest in Six Months

Live Mint  

-- The liquidity deficit in the Indian banking system hit the highest in nearly six months on advance tax payments by companies and likely dollar sales by the central bank to curb rupee volatility. The banking system cash deficit, as measured by banks’ borrowings from the Reserve Bank of India, was at 1.5 trillion rupees as of Monday, the highest …

India bond yields seen a tad higher ahead of debt supply
3 months, 1 week ago

India bond yields seen a tad higher ahead of debt supply

Live Mint  

By Dharamraj Dhutia MUMBAI, Dec 13 - Indian government bonds are expected to rise marginally in early deals on Friday, as market participants await a fresh supply of debt through the weekly auction, while elevated U.S. yields will continue to weigh on sentiment. New Delhi aims to raise 370 billion rupees through the sale of bonds later in the day, …

Rupee hits record low, RBI intervention counters bearish tilt
3 months, 1 week ago

Rupee hits record low, RBI intervention counters bearish tilt

Live Mint  

By Jaspreet Kalra MUMBAI, Dec 12 - The Indian rupee fell to an all-time low on Thursday, pressured by a lingering depreciation bias and heightened demand for the U.S. dollar in the non-deliverable forwards market, while the central bank's intervention helped prevent sharp losses. The dollar index was little changed at 106.5, unfazed by the elevated odds of a December …

India’s 10-year bond yield may fall to 6.6% if RBI eases in Feb, ICICI Bank’s Prasanna says
3 months, 1 week ago

India’s 10-year bond yield may fall to 6.6% if RBI eases in Feb, ICICI Bank’s Prasanna says

Live Mint  

By Dharamraj Dhutia MUMBAI, Dec 11 - Indian government bond yields may trend in a narrow range in the near term, but the benchmark bond yield could ease to levels seen three years ago if the central bank cuts interest rates in its next policy meeting, the treasurer at ICICI Bank said. Going into the next year, if there is …

Rupee ends marginally lower, near-term bearish bias tipped to persist
3 months, 2 weeks ago

Rupee ends marginally lower, near-term bearish bias tipped to persist

Live Mint  

By Jaspreet Kalra MUMBAI, Dec 9 - The Indian rupee closed slightly weaker on Monday, weighed down by a decline in its Asian peers with analysts expecting the local currency to continue facing headwinds amid persistent strength in the U.S. dollar. While U.S. labour market data released on Friday drove U.S. bond yields lower on heightened expectations of a Federal …

Stock market strategy: Should you increase your fixed income allocation as bond yields spike after RBI policy?
3 months, 2 weeks ago

Stock market strategy: Should you increase your fixed income allocation as bond yields spike after RBI policy?

Live Mint  

The Reserve Bank of India’s on December 6 kept the benchmark repo rate unchanged at 6.5% for the eleventh straight meeting, and maintained the monetary policy stance ‘Neutral’. Following the release of Q2FY25 GDP data, the bond market began anticipating potential monetary easing in the RBI policy. Bond Market Reaction The Indian government bond yields jumped, with the 10-year benchmark …

RBI signals cautious optimism on growth-inflation balance
3 months, 2 weeks ago

RBI signals cautious optimism on growth-inflation balance

Live Mint  

The Reserve Bank of India’s monetary policy on 6 December voted 4:2 to keep the policy repo rate unchanged at 6.50%. After the October ’24 inflation data came in at over 6%, the RBI revised the FY25 inflation forecast to 4.8% from 4.5% in its Oct ’24 policy. Liquidity infusion and rate cut prospects Persistent FPI outflows and RBI intervention …

Foreign investors buy $1 billion of Indian bonds on bets of policy easing after GDP data
3 months, 2 weeks ago

Foreign investors buy $1 billion of Indian bonds on bets of policy easing after GDP data

Live Mint  

Foreign investors have stepped up buying of Indian government bonds in the last four sessions, after weaker-than-expected economic growth data last week spurred expectations of monetary policy easing by the central bank. Foreign investors heavily sold bonds for most of November, as U.S. yields remained elevated after Donald Trump's victory in the presidential election raised doubts about the Federal Reserve's …

Indian bond yields inch higher on profit taking; debt sale eyed
3 months, 3 weeks ago

Indian bond yields inch higher on profit taking; debt sale eyed

Live Mint  

By Dharamraj Dhutia MUMBAI, Dec 3 - Indian government bond yields moved marginally higher in early trading on Tuesday, as traders cashed in profits from a two-session price rally after weaker-than-expected economic growth data, while a fresh debt supply was in focus. The yield declined by 10 basis points since data on Friday showed India's economic growth slowed much more …

Current yields bolster case for longer-term India bond investments, HDFC AMC says
Trending News
3 months, 3 weeks ago

Current yields bolster case for longer-term India bond investments, HDFC AMC says

Live Mint  

By Dharamraj Dhutia MUMBAI, Dec 2 - Indian government bond yields are "attractive," and macroeconomic indicators such as slowing growth and demand-supply dynamics are bolstering the case for longer-duration fixed income investments, an executive at India's third-largest asset manager said. ".Given the macroeconomic factors are favourably placed, the current level of yields present an opportunity to increase duration on risk-reward …

India 10-year bond yield hits 2-month low on growing policy easing bets
Trending News
3 months, 3 weeks ago

India 10-year bond yield hits 2-month low on growing policy easing bets

Live Mint  

By Dharamraj Dhutia MUMBAI, Dec 2 - Indian government bond yields continued to dip, extending Friday's trend at the start of a new week, as weaker-than-expected economic growth data spurred bets on a monetary policy easing. The Reserve Bank of India's monetary policy committee is set to meet this week, and is expected to make a decision on Friday. "It …

RBI Inquiries on Liquidity Spur Speculation of Action Next Week
3 months, 3 weeks ago

RBI Inquiries on Liquidity Spur Speculation of Action Next Week

Live Mint  

-- India’s central bank has stepped up dialogue with traders at treasury desks this week about cash conditions in the banking system, according to people with knowledge of the matter, spurring speculation it may announce some measures to boost liquidity at the policy review on Dec. 6. Banks turned net borrowers from the central bank this week compared with a …

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