RBI MPC meeting: Date, time and where to watch Governor Sanjay Malhotra’s monetary policy statement

The Reserve Bank of India (RBI) will announce its first bi-monthly monetary policy statement for FY2025-26 on Wednesday, amid expectations of another 25 basis points rate cut to support growth in a challenging global economic environment.

The six-member MPC began its three-day deliberations on Monday, as inflation shows signs of moderation and the Indian economy faces external headwinds from the recently imposed 26% tariffs by the United States on Indian imports.

The US tariffs are expected to lower India’s GDP growth for FY2025-26 by 20–40 basis points, potentially bringing it down to 6.1%, from the RBI’s earlier projection of 6.7%.

In February, the panel reduced the repo rate by 25 basis points to 6.25%, the first cut since May 2020 and the first revision in over two years.

With rising concerns over slowing global growth due to fractured capital flows, rapid currency swings, and trade barriers, experts expect another 25-bps cut in the repo rate this week.

According to a report from the State Bank of India’s Economic Research Department titled ‘Prelude to MPC Meeting: April 7-9, 2025’, the RBI could undertake cumulative rate cuts of at least 100 basis points in this easing cycle. The report suggests a pause in June, with the second round of rate cuts resuming from August.

When and where to watch