Indian bond yields, OIS rates fall after WPI comes below fore cast

MUMBAI: Indian bond yields and OIS swap rates fell on Monday after June wholesale price inflation came in below expectations, raising hopes the central bank will consider cutting interest rates at its July 31 policy review.

India's benchmark 10-year bond yield was down 6 basis points to 8.06 percent from levels before the data.

The country's one-year overnight index swap rate fell 5 basis points to 7.50 percent from before the data, and down 10 bps from its close on Friday.

The benchmark five-year rate was trading at 6.90 percent, down about 4 bps from levels before the data and 7 bps from its previous close.