Bond yields cool off before Reserve Bank of India's monetary policy

RBI watchers call for a CRR hike to support OMOs

The bond market has eased its pressure on the Reserve Bank of India, opting to wait patiently and evaluate every word of Governor Shaktikanta Das when he spells out the policy on Thursday. It will also weigh any statement on how the central bank looks to manage the government's record borrowing programme while continuing with a normalisation exercise.

The bond market had panicked seeing the Rs 14.95 trillion gross market borrowing number in the Budget on February 1, notwithstanding a switch done on the eve with the RBI, which would reduce it by at least Rs 63,000 crore.

The 10-year bond yield