India Central Bank Strikes Hawkish Tone, Fueling Bond Rout

  • RBI keeps rate unchanged, but says inflation a ‘major risk’
  • Das says RBI may consider open market bond sales in future
WATCH: Reserve Bank of India Governor Shaktikanta Das announces the central bank’s decision to leave its key interest rate unchanged.Source: RBI
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The Reserve Bank of India struck a hawkish policy tone on Friday, saying inflation needs to be tamed and it may take measures to absorb excess cash in the market, sparking a run up in the local bond yields alongside a selloff globally.