RBI Monetary Policy Meeting August 2025: Date, Time, Repo Rate Cut And What To Expect
In its June MPC meeting, the RBI cut the repo rate by 50 basis points to 5.5% and shifted its stance from ‘Accommodative’ to ‘Neutral.’
The Reserve Bank of India’s Monetary Policy Committee (MPC) began its three-day meeting on Monday, Aug. 4, to review key lending rates. The outcome of the review will be announced on Aug. 6.
Chaired by RBI Governor Sanjay Malhotra, the meeting comes against the backdrop of escalating global trade tensions, following the United States’ decision to impose a 25% tariff on Indian goods.
The MPC, which convenes every two months, assesses inflation, money supply and broader macroeconomic conditions to frame its policy decisions. Since February, the RBI has reduced the repo rate by a total of 100 basis points.
RBI Monetary Policy: Date And Time
The MPC meeting that began on August 4, will conclude on August 6. The outcome of the RBI MPC meeting will be announced by RBI Governor Sanjay Malhotra on Wednesday, August 6, at 10:00 AM. This will mark his 4th policy announcement since succeeding Shaktikanta Das
RBI MPC Meeting: What To Expect
Ahead of the Monetary Policy Committee (MPC) meeting on Aug. 4, SBI Research predicted another 25 basis point rate cut. In its report titled ‘Prelude to MPC Meeting: August 4-6, 2025,’ SBI Research highlighted that key economic trends, from tariff revisions to GDP growth, inflation projections for FY27 and even the festive demand cycle in FY26, are all being addressed early. The report added that in the current environment, delaying action could be counterproductive, stating, “No point in committing a Type 2 error today by not cutting rates in August, as inflation will continue to remain range-bound even in FY27.”
The report said, “We have analysed past trends of credit growth around the Diwali period with respect to repo rate cut. We found that any repo rate cut ahead of Diwali boosts credit growth more vigorously till Diwali.”
It added, “Being one of the biggest festivals in India, a low-interest rate regime before pre-Diwali leads to better credit growth; cutting now will result in frontloaded transmission too.”
Meanwhile, the Finance Ministry, in its latest monthly economic review, also outlined scope for further rate cuts. It highlighted that inflation remains well below the 4% target, creating headroom for the RBI to consider more cuts. Consumer price inflation has stayed under the 4% mark since February, reaching a six-year low of 2.82% in May. With core inflation also subdued, the ministry believes the RBI can continue its accommodative stance without stoking price pressures.
Despite some dovish signals, a few market experts believe the central bank may hold the benchmark repo rate steady at 5.5% in the upcoming bi-monthly policy review. After three consecutive rate reductions, the RBI could use this meeting to reassess global uncertainties, particularly elevated US tariffs and gauge the impact of past actions before moving further.
The six-member MPC, which decides on rate changes, comprises RBI Governor Sanjay Malhotra, Deputy Governor Poonam Gupta, Executive Director Rajiv Ranjan, and three external members, Nagesh Kumar, Saugata Bhattacharya and Ram Singh.
ALSO READ
RBI Repo Rate: Amid Status Quo Expectations, Will US Tariffs, Growth Concerns Force MPC To Rethink?
RBI Monetary Policy: Where To Watch Live?
The RBI Governor’s speech can be watched live on the central bank’s YouTube channel. It will also be available live on the social media accounts of the RBI, including X and Facebook.
The RBI Governor's speech will also be broadcast live on the NDTV Profit TV channel from 10 a.m. onwards. You can also follow real-time updates on the website's live blog or check the NDTV Profit YouTube channel for updates. The post MPC press conference will begin at noon on August 6.
RBI Monetary Policy Calendar 2025-26
The remaining MPC meetings for 2025-26 are scheduled for Sep. 29 to Oct. 1, Dec. 3 to 5, and Feb. 4 to 6, 2026.
