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2019-06-03 12:25:00

INDIA'S GDP UP, DEBT DOWN

INDIA'S GDP UP, DEBT DOWN

BLOOMBERG - India's benchmark bond yield slid to an 18-month low as a slowing economy and falling oil prices intensified speculation that the central bank will cut rates more than once.

The yield on 10-year rupee sovereign debt fell as much as 9 basis points to 6.94% after data late Friday showed gross domestic product rose 5.8% last quarter from a year earlier. That was slower than the median 6.3% estimate in a Bloomberg survey. Cooling crude prices further improved the outlook for inflation, which is already below the central bank's target.

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Tags: INDIA, GDP, DEBT
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