India’s central bank surprised markets by suspending its version of quantitative easing, signaling the start of tapering pandemic-era stimulus measures as an economic recovery takes hold, Bloomberg News reported. There’s no need for further bond-buying, Reserve Bank of India Governor Shaktikanta Das said in an online broadcast Friday, while stressing the step is not a reversal of its accommodative policy stance. The RBI will be ready to resume purchases if needed, he said. Bonds were mixed. The yield on the benchmark 10-year bond climbed 4 basis points after Das announced discontinuing the Government Securities Acquisition Programme, or GSAP, bucking market expectations for only trimming the size of its asset purchases from 2.2 trillion rupees ($29.3 billion) in the previous two quarters. Shorter-maturity debt was little changed after the RBI didn’t raise the reverse repurchase rate -- a tool used to drain excess funds from lenders -- as expected by some traders. Stocks climbed after the six-member Monetary Policy Committee also decided to keep the benchmark repurchase rate at a record low 4%, as predicted by all 34 economists in a Bloomberg survey. Read more.