RBI MPC Meet 2026 LIVE: The Reserve Bank of India (RBI) will announce its monetary policy decision today, 6 February 2026, Friday. The RBI Governor Sanjay Malhotra-led Monetary Policy Committee (MPC) held its sixth and the last bi-monthly policy meeting for FY26 from February 4 to February 6, and the repo rate decision will be announced today.

The RBI has already cut the repo rate by a cumulative 125 basis points (bps) since February 2025. The February RBI’s MPC meeting comes close on the heels of the recently announced Union Budget 2026–2027, as well as the announcement of the India–US trade deal.

RBI Governor Sanjay Malhotra will deliver his policy speech at 10:00 AM,

What to expect from RBI policy today?

The RBI’s Monetary Policy Committee (MPC) – the six-member rate setting panel – is widely expected to keep repo rates unchanged at 5.25%, with focus likely to remain on liquidity management and transmission.

RBI had cut the repo rate by 25 bps in its December policy. With growth-inflation dynamics remaining favourable, RBI has been infusing liquidity over the past quarter through Variable Rate Repo (VRR) Operations as well as Open Market Operations (OMOs).

Market participants will closely track RBI Governor’s commentary regarding continuity of these liquidity measures. Further, in light of the government’s Gross Borrowing Calendar for FY 2026-27, markets will also look for clarity on the RBI’s stance on OMOs going forward to support the borrowing programme.

In its December monetary policy, RBI had cut the repo rate by 25 bps to 5.25% from 5.50%, and decided to continue with a ‘neutral’ stance.

Stay tuned to our RBI MPC Meet 2026 LIVE Blog for the latest updates.