RBI MPC meeting: Key decisions on growth, inflation outlook today; Check when & where to watch

The Reserve Bank of India’s Monetary Policy Committee (MPC) is scheduled to release its latest policy decision on Friday, June 5, at 10 a.m., with investors, businesses, and borrowers looking for clues on interest rates, inflation, and economic expansion.

The six-member MPC, chaired by RBI Governor Sanjay Malhotra, began its three-day policy meeting on Wednesday, June 3, amid rising global uncertainty, unpredictable crude oil prices, and pressure on the Indian rupee.

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Most economists expect the RBI to keep the benchmark repo rate unchanged at 5.25%, continuing its cautious approach amid evolving domestic and global conditions. While inflation has remained within the central bank’s comfort zone in recent months, the sharp rise in oil prices due to tensions in West Asia has raised concerns about future price pressures and their impact on the economy.

Focus on inflation, growth and global Risks                                                                                                   

The policy announcement is expected to be closely scrutinised not only for the interest-rate decision but also for Governor Sanjay Malhotra’s assessment of inflation, growth prospects, liquidity conditions, and the rupee. Recent developments in global energy markets have added a fresh layer of uncertainty. India’s retail inflation rose to 3.48% in April 2026, remaining below the RBI’s medium-term target of 4%. However, economists warn that sustained high oil prices and supply-side disruptions could push inflation higher in the coming months.

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The central bank has maintained the repo rate at 5.25% in its previous policy reviews this year after a series of rate cuts totalling 125 basis points since February 2025. In its April monetary policy, the RBI retained a neutral stance and projected India’s GDP growth for FY27 at 6.9%, while estimating consumer inflation at 4.6% for the fiscal year.

Where to watch                                                                                                                                                             

Governor Malhotra’s policy statement and subsequent press conference will be broadcast live on RBI’s official digital platforms on June 5. Market participants will closely monitor his remarks for indications on the central bank’s policy direction and its assessment of emerging risks to the Indian economy.