{
  "data": {
    "id": "reserve-bank-of-india-2026-10-07",
    "bank": "reserve-bank-of-india",
    "bankName": "Reserve Bank of India",
    "country": "IN",
    "date": "2026-10-07",
    "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 October 5, 6 and 7, 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": "2026-10-07",
      "rateBefore": 5.25,
      "rateAfter": 5.5,
      "direction": "raise",
      "statement": "https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=63742",
      "observed": true
    },
    "page": "https://macroindex.org/bank/reserve-bank-of-india/decision/2026-10-07",
    "account": {
      "summary": "The Reserve Bank of India's Monetary Policy Committee raised the policy repo rate by 25 basis points to 5.50% and changed its stance from neutral to calibrated tightening.",
      "vote": "unanimous",
      "dissent": "On the stance, two members, Dr. Nagesh Kumar and Prof. Ram Singh, were of the view that it should be retained at neutral.",
      "reasons": [
        "The MPC said inflation and its outlook were no longer benign, with headline CPI inflation expected to average almost 5.8% over the next three quarters and core inflation projected at 4.4% for the year.",
        "It noted that CPI inflation rose to 4.8% in August 2026, with core inflation also picking up and food price increases becoming more broad-based.",
        "The MPC said there was some evidence of elevated inflation expectations and generalisation of inflation, and that strong growth in monetary and credit aggregates posed risks."
      ],
      "guidance": "The MPC said the calibrated tightening stance means rate cuts are off the table in the near term and the next move can only be a hike or a pause, depending on conditions and the outlook.",
      "readFrom": [
        "https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=63742"
      ],
      "at": "2026-10-10"
    }
  },
  "meta": {
    "dataset_version": "2026-10-10.30752eb2",
    "built_at": "2026-10-10T18:04:32Z",
    "generated_at": "2026-10-10T20:39:47.794Z",
    "licence": "CC BY 4.0: credit \"Macro Index\" and link to the site",
    "docs": "https://macroindex.org/openapi.json"
  }
}