{
  "id": 14438491,
  "title": "Ultra-short-term borrowing costs spike; premium over policy rate hits 4-year high",
  "url": "https://urgent.news/2026/10/14/ultra-short-term-borrowing-costs-spike-premium-over-policy-rate-hits",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-14T11:47:10.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/policy/ultra-short-term-borrowing-costs-spike-premium-over-policy-rate-hits-4-year-high/articleshow/134941611.cms"
  },
  "original_language": "en",
  "account": null,
  "summary": "The government's ultra-short-term borrowing costs surged on Wednesday, with the premium over the benchmark policy rate reaching a four-year high. The Reserve Bank of India (RBI) raised rates for the first time in nearly four years and signaled more increases to come, prompting traders to increase rate hike bets. The cutoff yields for 182-day and 364-day treasury bills were 6.29% and 6.49%, respectively, marking the highest levels in about 18 months. The premium, or spread over the 5.5% repo rate, jumped to 79 basis points and 99 basis points for the six-month and one-year notes, levels last seen in November 2022. Analysts suggest that the hawkish policy guidance and latest commentary have raised terminal rate expectations due to resilient growth and higher inflation.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}