NEW DELHI: The Indian benchmark 10-year bond yield slumped to a near five-month low on Tuesday after data showing headline retail inflation eased in February gave rise to expectations for a cut in the central bank’s key policy rate next month. The Reserve Bank of India (RBI) is widely expected to cut repo rate by 25 basis points when it announces its policy statement on April 5. Bonds were also lifted after the central bank said it will buy bonds up to INR 150 billion ($2.23 billion) on Thursday through an open market operation.