The central bank of India, the Reserve Bank of India (RBI), will publish the results of its October monetary policy review on Wednesday, October 7. RBI Governor Sanjay Malhotra will present the Monetary Policy Committee (MPC) decision at 10 am, followed by a press conference at noon.
The six-member RBI MPC will hold its meetings as part of a two-month policy review from October 5 to October 7, 2026. During these meetings, the panel will assess current economic conditions and developments before deciding on the repo rate and the central bank's overall monetary stance.
Where can one watch the RBI Governor's address?
The monetary policy announcement will take place at 10 am on October 7. A press conference is scheduled for 12 pm afterward. Information regarding the decisions and the governor's speech will be available live on the official RBI website, on the RBI YouTube channel, and on the RBI X account.
Additionally, readers can follow the policy announcement and other events via a live stream from Business Standard.
What to expect from the October MPC meeting?
According to a Business Standard poll, the RBI's Monetary Policy Committee is expected to begin raising interest rates, increasing the repo rate by 25 basis points (bps) at the meeting held from October 5 to 7. Eight out of ten respondents believe that a rate hike will occur.
Previously, the RBI had raised the repo rate in February 2023, increasing it by 25 bps to 6.5 percent. Over the last four policy reviews, the MPC had kept the repo rate at 5.25 percent. This followed a cumulative reduction of 125 bps in 2025.
What happened at the August MPC meeting?
At the August meeting, the RBI maintained the repo rate at 5.25 percent. The MPC, which met from August 3 to 5, also maintained its monetary stance as 'neutral'. The Standing Deposit Facility (SDF) rate remained unchanged at 5 percent, while the Marginal Standing Facility (MSF) and bank rate remained at 5.5 percent.
The RBI Governor stated that core inflation pressure had been under control for some time and was expected to align with headline inflation by the end of the current fiscal year. Regarding economic growth, Malhotra noted that activity continues to be supported by strong domestic demand, stable growth in the manufacturing and services sectors, and healthy export figures. RBI projected real GDP growth at 6.7 percent for fiscal year 27. Quarterly growth forecasts are as follows: Q1 FY27 – 7 percent; Q2 FY27 – 6.4 percent; Q3 FY27 – 6.5 percent; Q4 FY27 – 6.8 percent.