RBI Monetary Policy Committee Meeting 2026: Key Dates, Times and Expectations

RBI MPC Meeting 2026: Reserve Bank of India Set to Announce Monetary Policy Decision

The Reserve Bank of India (RBI) is set to announce its monetary policy decision today, June 5, 2026, following its second bi-monthly policy meeting for FY27. The Monetary Policy Committee (MPC), chaired by RBI Governor Sanjay Malhotra, conducted its meeting between June 3 and June 5.

The June MPC meeting takes place against a backdrop of growing macroeconomic challenges, as the ongoing US-Iran conflict in the Middle East weighs on India's growth and inflation outlook. Escalating geopolitical tensions have led to a significant surge in crude oil prices, intensifying inflationary pressures and contributing to the weakening of the rupee.

In its previous policy meeting in April, the MPC unanimously decided to leave the repo rate unchanged at 5.25% and retained its neutral policy stance. The Standing Deposit Facility (SDF) rate was kept at 5%, while the Marginal Standing Facility (MSF) rate remained at 5.5%. The central bank projected India's GDP growth at 6.9% for FY27 and estimated FY26 growth at 7.6%. It also raised its retail inflation forecast for FY27 to 4.6% from the earlier projection of 4.2%.

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Market investors will closely watch the central bank's assessment of the evolving situation in West Asia and its potential implications for the remainder of the fiscal year, especially as tensions between the US and Iran have now persisted for a fourth month.

The RBI Governor's policy announcement will be streamed live on the RBI's official YouTube channel starting at 10:00 a.m. Viewers can watch the Governor's media address on the same platform. Economists expect the RBI's Monetary Policy Committee (MPC) to leave the repo rate unchanged, while maintaining a stance that indicates it is prepared to intervene if inflationary risks intensify and second-round price pressures begin to emerge.

In a report, CareEdge Ratings said, "We expect the RBI's Monetary Policy Committee (MPC) to remain in a wait-and-watch mode, maintaining a status quo on both policy rates and stance in June meeting." It further expects the tone of the policy statement to be crucial, as the possibility of policy rate hikes towards the end of the year cannot be ruled out if the inflationary pressure prolongs.

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Sugandha Sachdeva, Founder of SS WealthStreet, believes that the stance of the RBI is likely to be hawkish in the upcoming meeting. "The central bank is expected to adopt a cautious approach. While supporting growth remains important, containing inflation and maintaining currency stability are likely to remain key priorities. Given the uncertain global backdrop and the risk of imported inflation from elevated energy prices, we expect the RBI to keep the repo rate unchanged at its upcoming monetary policy meeting scheduled for Friday, but the stance of the RBI is likely to be hawkish," Sachdeva said.