RBI MPC Meeting October 2026: When Is Repo Rate Decision? Check Date, Time, Agenda And What To Expect

The Reserve Bank of India is set to make its next major interest-rate call this week, with the October Monetary Policy Committee meeting beginning on Monday, October 5. The outcome on October 7 could be particularly important for borrowers and financial markets, as expectations of a rate increase have resurfaced after more than three years of policy stability.

RBI MPC Meeting October 2026: Check Date, Time, Agenda And What To Expect

The RBI's repo rate is currently 5.25%. A 25 basis point increase would push it to 5.50%. Such a move would mark the first repo rate hike since February 2023 and would also represent a shift after the central bank's recent run of keeping the benchmark rate unchanged.

The six-member MPC will hold its October review from October 5 to October 7, 2026. The committee, headed by RBI Governor Sanjay Malhotra, will assess the latest economic and financial data before announcing its decision.

The RBI is scheduled to release the policy outcome at 10:00 am on October 7. Governor Sanjay Malhotra will then address the media at 12:00 pm, offering further details on the central bank's assessment and policy direction.

The policy announcement and the Governor's press conference will be available through the RBI's official YouTube livestream, allowing borrowers, investors and analysts to follow the decision in real time.

"We expect the RBI to hike respecting its inflation-mandate, but see a strong macro case for a pause. Rising core inflation, modest broadening of price pressures, low real rates, and global tightening all tilt the balance toward a hike, with oil above the RBI's assumptions likely the key swing factor. Yet the case for an extended tightening cycle is weak," said RBI Research Report.

RBI MPC October Meeting Key Agenda

The MPC's decision will not be based on inflation alone. The committee will assess several indicators before determining whether monetary policy needs to become tighter.

Inflation: The RBI will examine the latest inflation trajectory and whether price pressures are broadening beyond temporary factors.

Economic growth: The committee will assess whether economic activity remains strong enough to withstand tighter financial conditions and how the growth outlook has evolved.

Crude oil prices: Any sustained increase in international crude prices could affect India's inflation, current account position and overall macroeconomic stability.

Liquidity: The availability of money within the banking system will also be important for determining whether financial conditions remain supportive or need adjustment.

Global conditions: Movements in global interest rates, currencies, bond yields and geopolitical developments will form part of the MPC's assessment.

SBI Research Predicts 25 Bps RBI Rate Hike

The possibility of an October rate increase has also received support from SBI Research. Its September analysis recommended a 25 bps hike in October, followed by another 25 bps increase in December.

SBI Research has cited higher crude oil prices, external shocks and signs of inflation becoming more broad-based among the factors that could influence the RBI's policy stance.

If the RBI follows this view, the repo rate could move to 5.50% in October and potentially reach 5.75% after another 25 bps increase in December. However, the final decision will depend on the MPC's assessment of the inflation-growth balance and financial conditions.

What RBI Rate Hike Could Mean For Home Loan Borrowers

For borrowers, the biggest concern will be the possible impact on lending rates. If banks pass on a repo rate increase to loans linked to external benchmarks, borrowers with floating-rate home loans and other loans could face higher interest costs.

The impact on existing borrowers will depend on the benchmark and repricing mechanism associated with their loans. New borrowers could also find borrowing marginally more expensive if lending rates rise following an RBI hike. Depositors and fixed-income investors, on the other hand, could benefit if banks respond by increasing deposit rates to attract funds.

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