Reserve Bank of India's six-member Monetary Policy Committee (MPC), led by Governor Sanjay Malhotra, began its bi-monthly meeting on Feb. 4. The committee will announce its policy decision on Friday, Feb. 6. Most economists expect the MPC to keep the repo rate unchanged. The committee is also likely to retain a neutral policy stance. In its December policy, the MPC cut the repo rate by 25 basis points to 5.25%. This took the total rate cuts in 2025 to 125 basis points. After these sharp reductions, experts believe the RBI may pause further cuts for now.
According to Nuvama Research, the transmission of earlier rate cuts to bank lending rates is still in progress. At the same time, bond yields have remained relatively sticky. In this backdrop, the report said the central bank is likely to stay focused on liquidity management, ANI reported.
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Inflation, GDP Forecast
Economists also do not expect major changes in growth or inflation forecasts. In December, the RBI raised its GDP growth projection for FY26 by 50 basis points to 7.3%. This was higher than its earlier estimate of 6.8%. The government's first advance estimates place real GDP growth at 7.4% for FY26.
With inflation within comfort range, the RBI had lowered its consumer price index (CPI) projection for 2025–26 to 2% from 2.6%. If the RBI keeps rates unchanged, loan and deposit rates are likely to stay stable. Interest rates linked to the external benchmark lending rate will also remain the same. Borrowers are unlikely to see immediate changes in their loan EMI restructure.
RBI Monetary Policy 2026: Date And Time
The RBI MPC meeting will be held between Feb. 4 and Feb. 6. During this period, the committee will review current monetary policy settings. The RBI Governor will then announce the policy decision at 10 a.m. on Feb. 6. The Governor's press briefing will follow at noon.
RBI MPC Meeting Live Streaming: When And Where To Watch
Viewers can watch the announcement live on the RBI's social media handles. The RBI Governor's press briefing can also be watched live on NDTV Profit. Audiences can follow the updates in real time and track key highlights on YouTube and other social media channels of the NDTV Network. Viewers can visit RBI's YouTube channel to watch the press conference at noon on Feb. 6.
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