Banks › Reserve Bank of India › History › 5 Aug 2026
Reserve Bank of India: decision of 5 August 2026
The Reserve Bank of India's Monetary Policy Committee kept the policy repo rate at 5.25% and retained its neutral stance.
Decision
hold
- Rate
- 5.25%=5.25%
- Change
- 0 bp
- Vote
- unanimous
- Announced
Sources
- Statement
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=63287- Recorded
- 5 Aug 2026
- Data
- JSON
What the bank said
The MPC noted that CPI inflation rose to 4.4% in June 2026 after 16 months below target, driven mainly by food and fuel, with little sign so far of broader price pressures.
It projected CPI inflation of 5.0% for 2026-27, peaking in the third quarter before moderating, and said core inflation excluding precious metals remained benign.
The MPC said greater clarity on inflation, its path and composition was needed before taking any policy action, given uncertainty over the monsoon, El Niño, geopolitics and trade policy.
Guidance. The MPC said any future action would also consider the need to recalibrate policy rates in line with evolving growth-inflation dynamics, and that it would keep a close vigil on inflation.
Before and after
- Previous decision: 5 Jun 2026, held the policy repo rate at 5.25%.
- Next decision: 7 Oct 2026, raised the policy repo rate by 25 bp to 5.50%.
- All Reserve Bank of India decisions and the rate history