Published on Wed, Feb 08, 2012 at 11:48 | Source : Reuters
Updated at Wed, Feb 08, 2012 at 14:59
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No decision to stop OMOs: Subir Gokarn
Reserve Bank of India Deputy Governor Subir Gokarn indicated the central bank will continue to buy bonds through open market operations (OMOs) and said there was no decision to stop them.
Reserve Bank of India Deputy Governor Subir Gokarn indicated the central bank will continue to buy bonds through open market operations (OMOs) and said there was no decision to stop them.
OMOs will be done in response to the overnight cash rate and banks' daily borrowing from the RBI's repo counter under its liquidity adjustment facility, Gokarn said on the sidelines of a Bank of America event.
The RBI has so far bought Rs 80670 crore of bonds via OMOs since November, but contrary to market expectation has not yet announced a new round of purchases for this week so far.
