The Reserve Bank of India is set to announce its monetary policy decision today following the April 6–8 meeting of the Monetary Policy Committee (MPC) led by Governor Sanjay Malhotra.
The six-member panel will decide on the repo rate, currently at 5.25%, weighing options to hold, hike, or cut rates. The central bank has already reduced the repo rate by 125 basis points since February 2025, while maintaining status quo in the previous policy.
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At its February meeting, the MPC unanimously chose to keep rates unchanged at 5.25% and adopted a ‘wait-and-watch’ stance, focusing on maintaining stability after a phase of substantial policy adjustments.
According to SBI Research, the RBI is likely to keep rates unchanged this time as well, citing heightened global uncertainty due to the ongoing West Asia conflict, making this the first policy review since the escalation.