BoA, JPMorgan laud RBI report, peg yields way below 9%

Jan 22, 2014, 12.27 PM IST

The Urjit Patel-headed committee which was entrusted with the task of drawing the framework for policymaking, recommended that the central bank should go for taming consumer price inflation at 4 percent. Effective implementation of the proposal, which Mehta says is going to be a tough job, is expected to bring down interest rate considerably.

Tags  Reserve Bank , Jayesh Mehta , Bank of America , Urjit Patel, monetary , State Bank of India

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BoA, JPMorgan laud RBI report, peg yields way below 9%

The Urjit Patel-headed committee which was entrusted with the task of drawing the framework for policymaking, recommended that the central bank should go for taming consumer price inflation at 4 percent. Effective implementation of the proposal, which Mehta says is going to be a tough job, is expected to bring down interest rate considerably.

Like this story, share it with millions of investors on M3

BoA, JPMorgan laud RBI report, peg yields way below 9%

The Urjit Patel-headed committee which was entrusted with the task of drawing the framework for policymaking, recommended that the central bank should go for taming consumer price inflation at 4 percent. Effective implementation of the proposal, which Mehta says is going to be a tough job, is expected to bring down interest rate considerably.

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Predictably, the bond yields ran up sharply after the Reserve Bank proposed transitioning to a Fed-type monetary policymaking in a report announced late Tuesday. Calling the sell-off an overreaction to the report, Jayesh Mehta of Bank of America said he sees yields to hover around 8.40 percent.

The thought is seconded by Jahangir Aziz of JP Morgan who says yield will move in the range of 8.50-8.75 percent.  

The Urjit Patel-headed committee which was entrusted with the task of drawing the framework for policy-making, recommended that the central bank should go for taming consumer price inflation at 4 percent. Effective implementation of the proposal, which Mehta says is going to be a tough job, is expected to bring down interest rate considerably.

Lauding the report, both Aziz and Mehta maintained in the medium term the scope of a rate cut can be ruled out. This is the reason why bond yields are running.

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