RBI Monetary Policy, MPC Meet 2025 Live Updates: The Reserve Bank of India will announce its policy rate decision at 10 am today. This is the fourth meeting of the RBI’s Monetary Policy Committee this fiscal year. Market analysts and economists are divided over whether RBI will announce a rate cut stay on pause.
This meeting has become even more crucial as the 25% additional tariff (taking the total to 50%) imposed by the US took effect just days after the RBI’s previous rate decision. RBI’s assessment on the impact and future plans to keep the economic balance intact will be interesting.
This is also an interesting period when the new GST rates got implemented. The rate rationalisation is expected to boost consumption. All eyes would be on how RBI reads the impact.
In addition, the H-1B visa fee hike announced by the US and the HIRE Act are also likely to influence the RBI’s decision.
RBI kept repo rate steady at 5.50% in August meet
In its previous meeting held on August 4–6, the RBI kept the repo rate unchanged at 5.50% and maintained a neutral stance. This followed three consecutive cuts totaling 100 basis points across February, April, and June 2025, which had brought the repo rate down from 6.5%.
For FY26, the RBI lowered its full-year CPI inflation forecast to 3.1% from 3.7% and the central bank retained its GDP forecast for FY26 at 6.5%.
RBI Monetary Policy Meeting 2025 LIVE Updates:
RBI MPC Meeting 2025 LIVE Updates: Nomura sees 70% chance of October rate cut
Nomura in its report said it sees a 70 per cent probability of a 25 basis point cut in October, and a 30 per cent chance that the RBI holds rates. In its report, it expects the RBI’s MPC to resume policy easing on October 1. “We expect the MPC to cut the repo rate by 25 bps in October, as benign inflation provides space to boost domestic demand and offset external risks,” it noted.
Nomura highlighted five supportive factors: 1) the negative shock from tariffs will more than offset the GST boost; 2) below 4% inflation provides the space; 3) current policy rates are restrictive; 4) a coordinated monetary-fiscal response is essential for boosting domestic demand; and 5) policy transmission works with long lags.
RBI MPC Meeting 2025 LIVE Updates: IDFC First Bank sees RBI holding rates in October
IDFC First Bank believes the October RBI policy will be a close call between a rate cut and a pause. However, it expects the RBI to stay on hold in October. "RBI is likely to stay on pause in October and cut in December if downside risks to growth materialize. By the December policy, there will be clarity on the impact of GST on consumption demand with the festival season complete and hopefully some clarity on tariffs," IDFC First Bank noted.
RBI MPC Meeting 2025 LIVE Updates: RBI paused in August after three rate cuts since February
Before the decision to pause in the August meeting, the RBI had cut rates three times, amounting to a total reduction of 100 basis points since February. In its June 2025 meeting, the RBI delivered a “jumbo” cut of 50 basis points, bringing the repo rate down to 5.50 per cent. In the April 2025 MPC meeting, the RBI cut the repo rate by 25 basis points, and in the February 2025 policy meeting, it also reduced the repo rate by 25 basis points.
RBI MPC Meeting 2025 LIVE Updates: August meet highlights
The RBI MPC met on August 4-6 before this. In that meeting, the RBI kept the repo rate unchanged at 5.50% and maintained a neutral stance. For FY26, the RBI lowered its full-year CPI inflation forecast to 3.1% from 3.7%, while retaining its GDP forecast at 6.5%. The Standing Deposit Facility (SDF) rate was kept at 5.25%, and the Marginal Standing Facility (MSF) and the Bank Rate were maintained at 5.75%.
RBI MPC Meeting 2025 LIVE Updates: Where to watch
The announcement will be broadcast live on the RBI’s official YouTube channel. For real-time updates and expert insights, audiences can tune in to leading financial news platforms such as FinancialExpress.com and follow coverage across social media.
In March, the central bank had released its meeting schedule for FY26. The six scheduled MPC meetings for FY26 are as follows:
April 7-9, 2025
June 4-6, 2025
August 5-7, 2025
September 29-October 1, 2025
December 3-5, 2025
February 4-6, 2026
RBI MPC Meeting 2025 LIVE Updates: Meet the MPC members
The RBI Monetary Policy Committee consists of six members: three from the RBI and three appointed by the Central Government. It includes the Governor of the Reserve Bank of India, Sanjay Malhotra; the Deputy Governor of the Reserve Bank of India, in charge of Monetary Policy; and one officer of the Reserve Bank of India nominated by the Central Board.
The three external members are Prof. Ram Singh, Director, Delhi School of Economics, University of Delhi; Saugata Bhattacharya, Economist; and Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development, New Delhi.
RBI MPC Meeting 2025 LIVE Updates: Decision on key interest rate today
This is the Reserve Bank of India's fourth Monetary Policy Committee (MPC) meeting of the fiscal year. The meeting commenced on September 29 and will conclude today, October 1, with the policy decision announcement scheduled for 10:00 AM by RBI Governor Sanjay Malhotra on the repo rate, GDP growth forecast, and inflation outlook.
RBI MPC Meeting 2025 LIVE Updates: Welcome to the live blog!
Greetings! Reserve Bank of India is set to announce the MPC decision on policy rates at 10:00 am today. Stay tuned to this space at financialexpress.com for detailed coverage, key expectations, and market reactions to the central bank’s decision.