India’s short-term borrowing costs hit four-year high as rate hike bets rise
India's short-term borrowing costs surged at a treasury bill auction on Wednesday, with yields reaching a four-year high as investors anticipated further rate hikes by the Reserve Bank of India. The government sold 182-day and 364-day treasury bills at yields of 6.29% and 6.49%, respectively, reflecting a shift towards more aggressive monetary tightening. Analysts predict additional rate hikes this fiscal year due to persistent inflation risks.