RBI MPC Meeting October 2026: The Reserve Bank of India (RBI) began its three-day Monetary Policy Committee (MPC) meeting on Monday, with the policy decision set to be announced today, 7 October. Market expectations are mounting that the central bank could deliver its first repo rate hike in four years.
The RBI has maintained the repo rate at 5.25% for four consecutive policy reviews, following a cumulative 125 basis point reduction in 2025. The latest MPC meeting is taking place against a backdrop of rising inflationary pressures and persistently high crude oil prices, raising expectations that the central bank may move towards a tighter monetary policy stance.
The October MPC meeting comes at a time when macroeconomic risks are intensifying. The ongoing Middle East conflict, now in its eighth month, has triggered inflationary pressures across major economies. India remains particularly vulnerable given its significant dependence on energy imports.
At its August MPC meeting, the RBI kept the benchmark repo rate unchanged at 5.25% and maintained its ‘neutral’ stance, as policymakers sought more clarity on the inflation outlook amid uncertainties surrounding the southwest monsoon, El Niño, geopolitical tensions and global trade policies.
RBI MPC meeting October 2026: Date and time
The RBI’s monetary policy decision is scheduled for Wednesday, October 7. RBI Governor Sanjay Malhotra will announce the Monetary Policy Statement at 10:00 am, followed by a post-policy press conference at noon, along with other members of the Monetary Policy Committee (MPC).
RBI MPC meeting October 2026: Where to watch RBI’s announcement?
The RBI Governor’s policy announcement will be streamed live on the central bank’s official YouTube channel from 10:00 a.m. The Governor’s subsequent media briefing will also be available to watch on the same platform.
Readers can also follow Mint for live updates and the latest developments from the RBI’s policy announcement.
RBI MPC meeting October 2026 expectations
Amid heightened macroeconomic headwinds and geopolitical uncertainty, the RBI may raise the policy repo rate by 50–75 basis points in the current cycle, according to Bandhan Life Insurance.
“The RBI is unlikely to mirror the US Federal Reserve rate path. Any policy action will be based on domestic inflation, growth, liquidity and financial stability. Rate action, if warranted, would be driven more by local factors than by Fed hikes alone,” said Avinash Agarwal, Senior Vice President and Head of Equity, Bandhan Life.
Agarwal further added tha the RBI is unlikely to mirror the US Federal Reserve rate path. Any policy action will be based on domestic inflation, growth, liquidity and financial stability. Rate action, if warranted, would be driven more by local factors than by Fed hikes alone, he said.
If the RBI goes ahead with the rate hike, it would be the first increase in more than three years. The central bank last raised the repo rate by 25 basis points to 6.50% in February 2023. It subsequently kept the rate unchanged through 2023–24 before starting its rate-cut cycle in 2025. The policy repo rate currently stands at 5.25%.
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