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The Reserve Bank of India's Monetary Policy Committee met from 5 to 7 October 2026 to decide on the repo rate, with its decision due on 7 October. The RBI had held the repo rate unchanged at 5.25 per cent across its four preceding policy reviews after cumulative cuts of 125 basis points in 2025, but rising retail and wholesale inflation, higher energy prices and rate increases by the US Federal Reserve, the Bank of Japan and other major central banks have built expectations of a hike. A Business Standard poll found eight of ten economists expecting a 25 basis point increase to 5.50 per cent, which would be the RBI's first rate hike since February 2023.