RBI faces uphill task in taming yield curve

Mumbai: The Reserve Bank of India’s Rs. 50,000 crores efforts in a week to stem the slide in bond prices went down the drain as the yields surged back past 6 percent in an environment where outlook on inflation is getting muddy and the communication is getting garbled.Intervention in the market post the monetary policy review earlier this month that led a spike in yields is giving way to pessimism that the central bank’s communication and