RBI MPC today: Governor Malhotra to announce policy today amid Budget and India–US deal backdrop

The Reserve Bank of India will announce its latest monetary policy decision on Friday, February 6, 2026, with markets widely expecting the central bank to hold interest rates steady after a prolonged easing cycle.

The Sanjay Malhotra-led Monetary Policy Committee (MPC) wrapped up its sixth and final bi-monthly meeting of FY26 on Thursday, with the repo rate decision scheduled to be unveiled later today. RBI Governor Sanjay Malhotra will deliver the policy statement at 10:00 am.

The decision comes at a key moment for the economy, following the Union Budget 2026–27 and the recent India–US trade deal, both of which have shaped market expectations around growth, liquidity, and borrowing conditions.

What markets expect from RBI today

The six-member MPC is widely expected to keep the repo rate unchanged at 5.25%, maintaining the pause after cumulative easing of 125 basis points since February 2025.

In its December policy, the RBI had cut the repo rate by 25 bps, bringing it down from 5.50% to 5.25%, and retained a ‘neutral’ policy stance.

With growth and inflation dynamics remaining broadly supportive, the central bank has focused in recent months on ensuring adequate system liquidity. Over the past quarter, RBI has infused liquidity through Variable Rate Repo (VRR) operations and Open Market Operations (OMOs).

RBI MPC meeting: Date and time

The Reserve Bank of India’s Monetary Policy Committee will hold its meeting from February 4 to February 6 to review the current monetary policy stance. The policy decision will be announced by the RBI Governor at 10:00 a.m. on February 6, followed by a press conference at 12:00 noon.

• Meeting dates: February 4–6, 2025

• Policy announcement: 10:00 a.m., February 6

• Press conference: 12:00 noon, February 6

Where to watch the RBI MPC announcement

Investors can follow the live policy announcement on the RBI’s official social media platforms. The post-policy press conference will also be streamed live on the RBI’s YouTube channel at 12:00 noon on February 6.