In an interview with CNBC TV 18, Shri. Kamal Mahajan, Advisor – Treasury & Global Markets Bank Of Baroda said that on the Money Market front, the demonstrative effect of the Government’s resolve to revive the economy has caught FIIs’ attention and is keeping the rupee stable. Commenting on the Bond Outlook he said that despite nervousness about the budget deficit numbers, the steepness in the bond yield curve is likely to keep the 10-year benchmark yields positively co-related to repo rate reductions.
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