The Reserve Bank of India cut the repo rate for the first time in nearly five years at this meeting, and the commentary in the minutes has opened up space for another rate action in April
The central bank cut the policy repo rate by 25 basis points on Friday, its first reduction in nearly five years, but did not announce any measures to boost banking system liquidity
A decline in the yuan and elevated US bond yields had weighed on the rupee through the session and the currency declined further after the trade data was released
While news of Modi's poor electoral showing triggered a bond selloff, the market later recovered after cabinet appointments including FM Sitharaman were seen to indicate no change
India's benchmark 10-year yield is likely to move in a 6.94 per cent -7.00 per cent range, following its previous close of 6.9809 per cent , a trader with a state-run bank said
India's benchmark 10-year yield is likely to move in a 7.00 per cent -7.04 per cent range, following its previous close of 7.0129 per cent, a trader with a state-run bank said
Yields declined on Monday tracking a drop in US yields, as traders turned optimistic on the Federal Reserve's rate cuts during the year after weaker-than-expected April nonfarm payrolls data