...........He also said RBI's move on Liquidity adjustment facility (LAF) rate to 10.25 is “extremely ill advised” because the long term bond rates move in the range between 50 basis point. Because LAF was at 7.2%, long term bond rates were between 7.25 and 7.75%, now they have increased to LAF rate or repo rate to 10.25%, I will be surprised if the bonds rates moves to that level”...............
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