...........Speaking to CNBC-TV18, Gokarn said the government needs to take credible steps to tackle deficit, which will help rupee and sentiment in market. Meanwhile, Indian bond prices have fallen further and the 10-year bond's yield have risen by another three basis points to 7.42 percent on suspected FII selling; sentiment is also weak ahead of an auction today and because rate cut hopes have all but vanished. Gokarn, however, said that the RBI may still find elbow room to cut rates in its next policy................
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