RBI MPC Meeting LIVE: RBI Keeps Repo Rate Unchanged At 5.25%

RBI Governor Sanjay Malhotra said India continues to remain the world’s fastest-growing large economy.

The RBI Monetary Policy Committee, led by Governor Sanjay Malhotra, has projected core inflation at 4.3 per cent for FY27.

The Reserve Bank of India (RBI) has projected CPI inflation at 5 per cent for FY27, with quarterly estimates revised to 4.1 per cent in Q1, 4.7 per cent in Q2, 5.9 per cent in Q3 and 5.5 per cent in Q4.

The Reserve Bank of India (RBI) has projected real GDP growth at 7 per cent in Q1 FY27, 6.4 per cent in Q2, 6.5 per cent in Q3 and 6.8 per cent in Q4.

The Reserve Bank of India has projected real GDP growth for FY27 at 6.7 per cent, up from its previous estimate.

RBI Governor Sanjay Malhotra said headline inflation is expected to increase in the near term, driven by higher oil and food prices, before peaking in Q3 and starting to decline thereafter.

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) has decided to keep the policy repo rate unchanged at 5.25 per cent. The committee has also maintained a ‘neutral’ policy stance.

RBI Governor Sanjay Malhotra has started announcing the August 2026 Monetary Policy Committee (MPC) decision.

The Monetary Policy Committee's decision is due shortly, with attention on whether the RBI maintains the status quo on rates.

Prachi Kele, Lead Economist, PL Capital said, "We expect MPC to adopt a cautious tone amid ongoing war-related uncertainties, while reiterating a data-dependent approach for future policy decisions. For the August meeting, we expect a status quo, with the policy rate maintained at 5.25%."

He added, A favourable response to FCNR(B) measures, improving FPI inflows as the AI- and semiconductor-led equity rally cools amid improved kharif sowing support the thesis for a pause. Food inflation is likely to remain contained in FY27 as El Niño risks recede and monsoon conditions remain favourable, while growth risks stay broadly balanced."

Anuj Puri, chairman, Anarock Group says, “From the upcoming monetary policy, the real estate sector anticipates the benchmark repo rate will remain unchanged at 5.25 per cent. A rate cut would certainly go a considerable way in directly stimulating homebuyer sentiment; however, we expect the central bank to remain cautious given sticky inflation and ongoing global volatility. It is nevertheless true that the sector is at a critical juncture.”

Puri: added, “Maintaining the status quo on the repo rate does provide predictability for project financing, but it does not alleviate these affordability challenges. As we approach the festive season, we certainly look forward to a future pivot toward rate easing, as this would revitalize overall sales volumes - particularly for affordable homes.” Read More

Nikunj Saraf, CEO, Choice Wealth said, "Our view is that the MPC holds at 5.25% this week. A cut is simply off the table. June CPI at 4.38% against 3.93% in May, with food inflation at 5.32%, is not a backdrop that permits easing and the RBI has already raised its FY27 inflation projection to 5.1%. We expect the stance to remain neutral, but the tone to harden. Any meaningful policy action, in our reading, sits in the H2 and the direction of that action is no longer one-way. What has changed is the external constraint."

He added, "The Fed held in July, but on a 9–3 vote with three dissents seeking a hike, and markets have moved from pricing cuts to pricing one increases by year-end. If the Fed tightens on crude-driven inflation, the rate differential narrows, the rupee already near 95, against an all-time low of 96.96 comes under pressure, and the RBI's room shrinks with it. That is the scenario we are underwriting. On market reaction: a pause is fully priced, so everything rests on the commentary."

Ahead of the RBI's August 2026 MPC decision, SBI Research said it expects the central bank to keep the repo rate unchanged. The report added that risks such as oil price volatility, rupee pressure and higher inflation projections could lead the RBI to adopt a cautious policy tone. Read more

At its June 2026 Monetary Policy Committee (MPC) meeting, which concluded on June 5, the Reserve Bank of India unanimously decided to keep the benchmark repo rate unchanged at 5.25 per cent. The central bank also retained its neutral policy stance, signalling that future policy decisions would remain data dependent.

The Reserve Bank of India (RBI) will live stream Governor Sanjay Malhotra's monetary policy statement on its official YouTube channel from 10:00 AM. The Governor's post-policy press conference is scheduled for 12:00 PM and will also be streamed live on the RBI's official YouTube channel, website and X handle.

The Reserve Bank of India (RBI) is set to announce its third bi-monthly monetary policy of FY27 today, August 5, 2026. The Monetary Policy Committee (MPC), which has been meeting from August 3 to August 5, will reveal its policy decision at 10:00 AM.