Economics
India Bonds Complete Weekly Gain on Rate-Cut Bets; Rupee Climbs
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India’s 10-year bonds completed their biggest weekly gain this month on optimism debt purchases by the monetary authority and expectations of interest-rate cuts will boost demand. The rupee also advanced.
The Reserve Bank of India bought 78.99 billion rupees ($1.4 billion) of securities at an open-market auction today, according to a statement on its website. At a policy review on Dec. 18, the RBI signaled it will cut interest rates in the coming months, after holding the repurchase rate at 8 percent for a fifth meeting.