The Reserve Bank of India‘s (RBI) monetary policy committee (MPC) began its three-day meeting on Monday, April 6. The central bank will announce the decisions of the first meeting of the financial year 2026–27 (FY27) on Wednesday, April 8. Chaired by Governor Sanjay Malhotra, the six-member panel will assess key issues, including interest rates, the inflation trajectory, and growth outlook.
The policy review comes against a backdrop of escalating geopolitical conflict in the Middle East and a weakening rupee. It also follows the RBI’s February 2026 decision to hold the repo rate steady at 5.25%, after having reduced it by a total of 125 basis points in 2025.
In February, the MPC unanimously voted to keep interest rates unchanged at 5.25% and opted for a ‘wait-and-watch’ approach, prioritising stability after a period of significant policy shifts.
RBI MPC Meeting date and time
The bi-monthly MPC meeting this month is taking place from April 6 to April 8, 2026. The policy decision is set to be announced at 10:00 a.m. on Wednesday, April 8. Governor Sanjay Malhotra is scheduled to address a press conference at noon.
Where and how to watch the RBI MPC meeting?
RBI Governor Sanjay Malhotra’s RBI MPC statement will be streamed live on the RBI YouTube channel at 10:00 AM on April 8, 2026. You can watch his live address to the media on the same platform.
RBI MPC meeting expectations
According to market experts, the central bank is likely to keep the repo rates unchanged despite swaps market pricing in 1.5 rate hikes in the April meeting and another rate hike in the June meeting, expecting the RBI to react aggressively to tame the oil-price-driven inflation.
Apoorva Javadekar, Chief Economist, Muthoot FinCorp, believes that hat the RBI is likely to hold the repo constant at 5.25% motivated by the need to support potential slowing down of the GDP growth due to external headwinds, and further given that India is starting the oil price shock with low inflation (3.21% in Feb-26) affords the RBI the room to wait-and-see.
“The pause will also allow real interest rates in India to fall, which are on the higher side and provide much-needed support to boost the capex and consumption story supported by strong bank and NBFC balance sheets. Lastly, the RBI is unlikely to use repo rate hike as an instrument to stabilise the INR, further bolstering our prediction of a pause,” Javadekar said.
Meanwhile, Madan Sabnavis, Chief Economist, Bank of Baroda, said that the tone will be cautious, and what will be eagerly awaited is the RBI’s forecast of GDP and inflation under the prevailing uncertainty.
“We do not expect any change in repo rate or stance this time or any measures for either liquidity or currency management as the RBI will do whenever required, as we have seen of late,” Sabnavis said.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
