Bond yields trade lower on Thursday, after the Monetary Policy Committee lowered its inflation projections and unveiled a less-hawkish statement, raising optimism the panel will ease interest rates in coming months.
In the global market, U.S. Treasury debt prices dropped on Wednesday, after comments from former FBI director James Comey on the bureau's investigation into Russia's alleged interference in the 2016 U.S. presidential election were viewed by investors as less damaging than they initially thought. Furthermore, Crude futures edged up in early Asian trading following heavy losses in the previous session after official data showed that U.S. inventories rose for the first time in 10 weeks, reawakening concerns over a glut.
Back home, the yields on new 10 year Government Stock were trading 6 basis points lower at 6.51% from its previous close of 6.57% on Wednesday.
The benchmark five-year interest rates were trading 8 basis points lower at 6.71% from its previous close of 6.79% on Wednesday.