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India's 10-year benchmark bond yield rose to its highest in two weeks to 7.90 per cent, after local news agency NewsRise reported citing a senior Finance Ministry official that the central bank might have to raise interest rates to keep the inflation in check.
However, the report did not specify by when the official expects interest rates to go up. Markets are already poised for a 25 basis points rate hike on Wednesday.
India's central bank is getting poised to raise interest rates for the first time since January 2014, analysts say - the question is whether this will happen on Wednesday or in August.
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