{
  "data": {
    "id": "reserve-bank-of-india-2026-08-05",
    "bank": "reserve-bank-of-india",
    "bankName": "Reserve Bank of India",
    "country": "IN",
    "date": "2026-08-05",
    "announceAt": null,
    "timezone": "Asia/Kolkata",
    "dateStatus": "published",
    "movedFrom": null,
    "rateBefore": 5.25,
    "step": 0.25,
    "calendarSource": "https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=62422",
    "citation": "MPC schedule for 2026-27 lists August 3, 4 and 5, 2026. The RBI publishes no announcement time on the schedule, so announceAt is left out.",
    "settleSource": {
      "role": "decision-statement",
      "pattern": "https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=<5-digit id>, titled \"Monetary Policy Statement, <FY> Resolution of the Monetary Policy Committee <dates>\"",
      "foundAt": "https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx",
      "example": "https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=63742",
      "resolvable": true,
      "reads": {
        "right": 7,
        "wrong": 0,
        "void": 0
      }
    },
    "observed": {
      "at": "2026-08-05",
      "rateBefore": 5.25,
      "rateAfter": 5.25,
      "direction": "hold",
      "statement": "https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=63287",
      "observed": true
    },
    "page": "https://macroindex.org/bank/reserve-bank-of-india/decision/2026-08-05",
    "account": {
      "summary": "The Reserve Bank of India's Monetary Policy Committee kept the policy repo rate at 5.25% and retained its neutral stance.",
      "vote": "unanimous",
      "reasons": [
        "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.",
      "readFrom": [
        "https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=63287"
      ],
      "at": "2026-10-10"
    }
  },
  "meta": {
    "dataset_version": "2026-10-10.30752eb2",
    "built_at": "2026-10-10T18:04:32Z",
    "generated_at": "2026-10-10T20:39:43.872Z",
    "licence": "CC BY 4.0: credit \"Macro Index\" and link to the site",
    "docs": "https://macroindex.org/openapi.json"
  }
}