RBI MPC June 2026: June 5 repo rate decision at 10am

What is happening on June 5

The Reserve Bank of India’s Monetary Policy Committee (MPC) is scheduled to announce its policy decision on June 5, 2026. Along with the repo rate decision, the central bank is expected to communicate its inflation projections. The announcement matters because it sets the near-term direction for borrowing costs across the economy and provides cues on how the RBI is reading inflation and growth trends.

The MPC’s bi-monthly meeting for this cycle is being held over three days, from June 3 to June 5, 2026. The policy decision will be released at 10 am on Friday, June 5. A press conference by RBI Governor Sanjay Malhotra is scheduled for 12 pm the same day.

Key dates and official timings

The article specifies the schedule for the meeting and the two main public communication points. Investors and market participants typically track both the policy statement and the governor’s media interaction for details on the decision, the stance, and forward guidance.

Where to watch the RBI policy announcement live

The RBI Governor’s MPC statement is set to be broadcast live on the RBI’s YouTube channel at 10 am on June 5, 2026, according to the article. Viewers can also watch the governor’s address to the media on the same platform.

The article also notes that the live announcement can be followed on the RBI’s official website and social media accounts at 10 am. Coverage of the announcement and media briefing is expected across major business news platforms.

What the SBI report expects this time

An SBI report cited in the article says the MPC is expected to keep the repo rate unchanged in the June 5, 2026 policy announcement. The report links the expectation to ongoing global economic uncertainties, pressure on government bond yields, and fluctuations in the domestic currency.

This expectation is relevant because it frames the policy decision as one where the RBI may prioritise stability, especially when bond market conditions and the currency can react quickly to surprises. The article does not provide a new consensus estimate beyond this SBI view, but it clearly highlights the “unchanged” call.

Where the repo rate stands, as per the article

The article states the MPC has kept the repo rate at 5.50% since June, and that the policy stance is currently neutral. It also adds that the MPC has lowered the policy repo rate by 100 basis points (bps) so far in 2025.

As described in the article, the easing cycle began with a 25-bps cut in February 2025, followed by another 25-bps cut in April 2025. The third move was a larger-than-expected 50-bps reduction in June 2025, taking the repo rate to 5.50%, after which it has been held.

What RBI said during the June 2025 policy

The article includes excerpts from an RBI transcript dated June 6, 2025, when Governor Sanjay Malhotra announced a 50-bps reduction in the policy repo rate to 5.5% with immediate effect. It also states that the standing deposit facility (SDF) rate was adjusted to 5.25%, while the marginal standing facility (MSF) rate and the bank rate were adjusted to 5.75%.

The same transcript indicates the MPC decided to change the stance from accommodative to neutral. The RBI’s narrative in the transcript also notes that after cuts in quick succession since February 2025, monetary policy had “very limited space to support growth,” providing context for why a neutral stance was chosen.

Inflation and GDP projections cited in the transcript

The June 6, 2025 transcript excerpt in the article says CPI inflation for FY 2025-26 was projected at 3.7%, revised down from an earlier forecast of 4%. The quarterly inflation path mentioned in the excerpt includes Q1 at 2.9%, Q2 at 3.4%, and Q3 at 3.9% (the Q4 figure is not fully visible in the provided text).

On growth, the same excerpt states that real GDP growth for FY 2025-26 was projected at 6.5%. It also provides quarterly splits: Q1 at 6.5, Q2 at 6.7, Q3 at 6.6, and Q4 at 6.3.

These figures matter for the June 2026 meeting because they reflect how the RBI previously framed the inflation-growth balance while setting policy at 5.50% and moving to a neutral stance.

Liquidity measures referenced in the article

Beyond rates, the article’s embedded transcript text also points to liquidity actions taken earlier. One excerpt states the RBI decided to conduct open market operation (OMO) purchases of government securities amounting to ₹100,000 crore, and a three-year dollar-rupee buy-sell swap of $1 billion, to inject durable liquidity in December (the excerpt describes these as actions “this month in December”).

Another excerpt from the June 6, 2025 transcript says the RBI decided to reduce the cash reserve ratio (CRR) by 100 bps from 4% to 3% of net demand and time liabilities. The reduction was to be implemented in four tranches of 25 bps each, effective from the fortnights beginning September 6, October 4, November 1, and November 29, 2025. The excerpt adds that the CRR cut would release primary liquidity of about ₹250,000 crore to the banking system by the end of November 2025.

Market impact: what investors may track on June 5

The June 5 announcement time and the press conference timing are important for intraday market positioning because rate decisions and guidance can affect bond yields, the rupee, and rate-sensitive stocks. The SBI report’s “status quo” expectation, as cited in the article, also highlights the role of global uncertainties, domestic bond yield pressures, and currency moves in shaping the RBI’s near-term choices.

Investors will typically look for clarity on whether the neutral stance is retained, and whether the RBI’s inflation projections change versus the earlier numbers referenced in the included transcript excerpts. The article explicitly says the MPC will announce inflation projections along with the decision, making that a key part of the communication.

A quick policy snapshot from the article

The information provided in the article allows a compact view of the recent policy path and stance.

Conclusion

The RBI’s MPC will meet from June 3 to June 5, 2026, with the repo rate decision and inflation projections due at 10 am on June 5, followed by Governor Sanjay Malhotra’s press conference at 12 pm. The policy statement will be streamed live on the RBI’s YouTube channel, with updates also available via the RBI’s website and social media. An SBI report cited in the article expects the repo rate to be kept unchanged, with the policy context shaped by global uncertainty, bond market conditions, and currency moves.